How would a rise in the cost of inputs such as raw materials affect supply?

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Aarav Wagner

Social Studies

7 April, 21:16

How would a rise in the cost of inputs such as raw materials affect supply?

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Lyla · Answer 1

The output is the finished good or service, and inputs are raw materials, labor, utilities, liscensing fees, or other goods. These inputs are also known as factors of production. If the price of inputs goes up, the cost of producing the good increases