Question

All of the following are assumed to be constant when the supply curve for a product is drawn, except the:

A. Price of the product
B. State of technology
C. Number of producers
D. Price of inputs used to make the product

Answer 1

The supply curve for a product is created assuming that all factors except the product's price are held constant, under the ceteris paribus assumption.

Step-by-step explanation:

When the supply curve for a product is drawn, all factors other than the product's price are assumed to be constant due to the ceteris paribus assumption. Therefore, the only factor that is not assumed to be constant is the: A. Price of the product. Other factors like the state of technology, number of producers, and the price of inputs used to make the product are held constant.