Which of the following would be expected to cause the quantity of wool supplied to decrease? A. A decrease in the price of wool B. A decrease in the number of wool producers C. An increase in the cost of raising sheep D. An increase in wages paid to workers in the wool industry

Question

Shane Campos

Business

20 September, 12:26

Which of the following would be expected to cause the quantity of wool supplied to decrease? A. A decrease in the price of wool B. A decrease in the number of wool producers C. An increase in the cost of raising sheep D. An increase in wages paid to workers in the wool industry

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Answers (1)

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Hamlet · Answer 1

B. A decrease in the number of wool producers

Explanation:

As number of wool producers decreases the quantity supplied of wool will also decreased. There will be less quantity of wool in the market and quantity of wool will also reduce relatively. All the other options does not effect the supply quantity of wool. So, the correct answer is B. A decrease in the number of wool producers