Question

Which of the following is a determinant of market supply?

A) Consumers' income
B) Available technology
C) Consumers' desire for the good
D) Consumer expectations

Answer 1

Available technology is a determinant of market supply, as technological improvements can reduce production costs and increase supply.

Step-by-step explanation:

The determinant of market supply from the options provided is B) Available technology. An improvement in technology that reduces the cost of production can lead to an increase in market supply because it may lower the price necessary for firms to supply any given quantity of product. This results in a rightward shift of the supply curve, indicating that more of the good can be supplied at the same price, or the same quantity can be supplied at a lower price.