Question

What are the three supply shifters discussed in the course notes?

Answer 1

The three supply shifters discussed in the course notes are input prices, technology, and government policies and regulations.

Step-by-step explanation:

The three supply shifters discussed in the course notes are:

1. Input prices: When the prices of inputs used to produce goods and services increase or decrease, it affects the cost of production and can shift the supply curve.
2. Technology: Improvements in technology can increase productivity and lower production costs, leading to an increase in supply.
3. Government policies and regulations: Changes in government policies or regulations, such as taxes or subsidies, can impact production costs and alter the supply curve.