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AP® Macroeconomics

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Change in the Cost of a Factor of Production

APMACR-G9XIBX

An increase in the cost of any factor of production for a good or service will result in

A

a leftward shift of the supply curve for that good or service.

B

a decrease in the quantity demanded for that good or service.

C

a decrease in demand for that good or service.

D

a rightward shift of the supply curve for that good or service.

E

a movement along both the supply and the demand curves for that good or service.