WAEC Economics 2015 Objective — Question 7
Question 7 of 50 from the West African Examinations Council (WAEC) Economics 2015 Objective paper, with the correct answer and a full explanation.
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If the price of flour rises, then bread's supply curve will shift to the
- A. left, demand curve shifts right
- B. right, demand curve shifts left
- C. left, demand curve remains unchangedCorrect
- D. right, demand curve remains unchanged
Explanation
A rise in the price of flour (an input) increases the cost of producing bread, shifting bread's supply curve to the left (a decrease in supply), while the demand curve for bread itself remains unchanged in position.
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