Increase in input price shifts the MC curve upward which implies higher cost for the same level of output. Accordingly, supply curve shifts upwards or to the left implying less supply at the same price. A fall in input price shifts the MC curve
downward which implies lower costs for the same level of output. Accordingly, supply curve shifts downward or to the right implying more supply at the same price.
marlinbito answered the question on May 12, 2018 at 12:46
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What does the Law of Variable proportions show? State the behaviour of marginal product according to this law
(Solved)
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Date posted:
May 12, 2018
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Answers (1)
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Due to the increase in population the demand for agricultural land has” increased”. But the supply of agricultural land is fixed. Explain two methods...
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Date posted:
May 12, 2018
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Date posted:
May 12, 2018
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Date posted:
May 12, 2018
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Date posted:
May 12, 2018
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Date posted:
May 12, 2018
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Date posted:
May 12, 2018
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Date posted:
May 12, 2018
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Date posted:
May 12, 2018
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Date posted:
May 12, 2018
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(Solved)
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Date posted:
May 11, 2018
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(Solved)
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Date posted:
May 11, 2018
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Date posted:
May 11, 2018
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Date posted:
May 11, 2018
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Date posted:
May 10, 2018
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Explain FOUR factors affecting the size of a National Income.
Date posted:
May 10, 2018
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Explain five factors which determine the productivity of labour.
Date posted:
May 9, 2018
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Date posted:
May 9, 2018
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Date posted:
May 9, 2018
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Date posted:
May 8, 2018
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