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If the price of floor rises, then bread

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Economics WAEC 2015

If the price of floor rises, then bread

  • demand curve will shift to the left while supply curve will shift to the right
  • supply curve will shift to the left checkmark
  • supply curve will shift to the right
  • demand curve will shift to the right while supply curve remains unchanged

The correct answer is: B

Explanation

 if the cost of resources used to produce a good increases, sellers will be less inclined to supply the same quantity at a given price, and the supply curve will shift to the left. 

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