Resource x is necessary to the production of good y. if the price of resource x rises, the supply curve for good y will shift leftward resulting in a(n) increase in the equilibrium price of y and a(n) decrease in the equilibrium quantity of y.
The answer is E. supply; leftward; increase; decrease. The supply curve is a graphical representation of cost of a good or service and the quantity supplied during that period. The curve can show many different outcomes from changes with the supply of a good or service based on the demand for it.
Answer: c. supply; rightward; decrease; increase.
Explanation:
Resource x is necessary to the production of good y. if the price of resource x rises, the ___supply__________ curve for good y will shift ___rightward_________ resulting in a(n) ____decrease_________ in the equilibrium price of y and a(n) _____increase_______ in the equilibrium quantity of y.
c. supply; rightward; decrease; increase.
