Answered

3. If the price of a resource required to produce a good increases, the supply curve will shift to the right, indicating that
producers are inclined to produce more of the good at each price point.
True
False



Answer :

GinnyAnswer

Final answer:

The answer is True, as a rise in the cost of production leads to a rightward shift in the supply curve, reflecting increased willingness to produce more goods.


Explanation:

True. When the price of a resource needed for production increases, the supply curve shifts to the right in economics. This shift indicates that producers are more willing to produce more of the good at each price point, showing an increase in supply.


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