A. level of technology
B. government policy
C. Entry of new firms
D. Price of the commodity
Correct Answer:
Option C – Entry of new firms
Explanation
Factors Affecting the Supply of a Commodity
- Price of the given Commodity
- Cost of Production:
- Natural Conditions
- State of Technology
- Transport Conditions
- Factor Prices and their Availability
- Government’s Policies
- Prices of Related Goods