Final answer:
A decrease in the supply of a good can be caused by various factors including an increase in the prices of substitutes, expected lower future prices, and a decrease in input prices. However, new technologies and increased producers can increase supply.
Step-by-step explanation:
A decrease in the supply of a good can be caused by several factors. An increase in the prices of goods that are substitutes in production, suppliers' expectations of lower future prices for the good, and a decrease in input prices could all lead to a decrease in supply. New technologies and an increase in the number of producers, however, would increase the supply as they lower the cost of production and create competition, respectively.
For instance, consider a situation in which the prices of tablets, which are substitutes for laptops in consumption, decrease. As a result of the law of demand, people started buying more tablets, causing a decrease in the demand for laptops. This decrease in demand can lead to a decrease in the supply of laptops, as manufacturers might cut production expecting reduced sales. This is how the decrease in the price of a substitute good can affect the supply of another good.
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