Short run cost curves

Question 1

How can changes in the unit costs of production cause a shift in supply costs?

Answer 1

Lower unit costs means a business can supply more at each price for example higher labour productivity

Question 2

How can a depreciation in the exchange rates cause a shift in supply costs?

Answer 2

Causes a higher price of imported components and raw materials

Question 3

Do advances in technology cause an outward or inward shift of supply?

Answer 3

Outward shift of supply

Question 4

Do regulations cause a outward or inward shift in supply costs?

Answer 4

Inward shift in supply costs