Economics WAEC

If the price of flour rises, then bread?

A. the demand curve will shift to the left while the supply curve will shift to the right
B. supply curve will shift to the left
C. supply curve will shift to the right
D. demand curve will shift to the right while the supply curve remains unchanged

Correct Answer: Option B

B. supply curve will shift to the left

Explanation

if the cost of resources used to produce a good increase, sellers will be less inclined to supply the same quantity at a given price, and the supply curve will shift to the left.

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