WAEC - Economics (2016 - No. 14)
How does producers expectation of a price fall affect the supply curve of a product? There will be
a moment along the curve
a leftward shift
no shift of the supply curve
a shift to the right
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If sellers expect that the price of the good will be decreasing in the future, then they are likely to sell more today. This causes an increase in supply and a rightward shift of the supply curve.