![]() He notes that the fundamental supply shifter is changes in costs, and the following factors can have an effect on costs: In his lesson video, Alex Tabarrok, explores “supply shifters” – factors that would cause an increase or decrease in the quantity supplied at a given price or increase or decrease the maximum willingness to produce a given quantity. In the illustration on the right, the supply curve is shifted upward (lower supply) resulting in a higher price needed to sell the same quantity and a smaller quantity that will be supplied at the same price. (See Alex Tabarrok, reference below and video to right.) ![]() A shift the supply curve will change the quantity that sellers are willing to supply at a given price or, equivalently, the price at which they are willing to sell a particular quantity of a good.
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