Question

which of the following is a determinant of supply? a. changes in population b. changes in complementary goods c. changes in income levels d. technology changes

Explanation:

To determine the determinant of supply, we analyze each option:

• Option A (Changes in population) and Option C (Changes in income levels) affect demand (related to consumer behavior), not supply.
• Option B (Changes in complementary goods) also impacts demand (as complementary goods' demand affects each other).
• Option D (Technology changes) directly affects a firm's production capabilities and efficiency, thus influencing the quantity supplied at each price level (a supply determinant).

Answer:

D. Technology changes