How would each of the following affect the market supply curve for whe

1.	How would each of the following affect the market supply curve for wheat? 1. A new and improved technique is discovered.2. The price of fertilizers falls 3. The government offers new tax concessions to farmers 4. Bad weather affects the crops.
Answer» 1. A new and improved technique is discovered: increase market supply 2. The price of fertilizers falls: increase market supply 3. The government offers new tax concessions to farmers: increase market supply 4. Bad weather affects the crops: decrease market supply

How would each of the following affect the market supply curve for wheat? 1. A new and improved technique is discovered.2. The price of fertilizers falls 3. The government offers new tax concessions to farmers 4. Bad weather affects the crops.

Answer»

1. A new and improved technique is discovered: increase market supply

2. The price of fertilizers falls: increase market supply

3. The government offers new tax concessions to farmers: increase market supply

4. Bad weather affects the crops: decrease market supply