Question

ECONOMICS PLEASE HELP TIMED!! Cow Tippers is a manufacturer that produces both leather cowboy boots and cowboy hats. Which of the following might decrease Cow Tipper’s supply of cowboy boots? * a. The price of leather has decreased. b. The price of labor hired by Cow Tipper’s has decreased. c. The price that consumers are willing to pay for cowboy hats has increased. d. The price of cowboy boots has decreased. e. The price of the machinery used to produce cowboy hats has decreased.

Answer 1

The factor that might lead to a decline in the supply of cowboy boots is the price that consumers are willing to pay for cowboy hats has increased.

What leads to a decrease in supply?

Factors other than a change in the price of A good would lead to either an increase or decrease in supply or a shift of the supply curve. Such factors include :

• A change in the price of input
• A change in the number of suppliers
• Government regulations
• Technological changes
• A change in the price of substitute goods.

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