All the following are factors that would bring about a change in supply except

  • A level of technology
  • B government policy
  • C Entry of new firms
  • D Price of the commodity
jamb 2015economics

The correct answer is C. Entry of new firms

Factors Affecting the Supply of a Commodity

i. Price of the given Commodity

ii. Cost of Production:

iii. Natural Conditions

iv. State of Technology

v. Transport Conditions

vi. Factor Prices and their Availability

vii. Government's Policies

viii. Prices of Related Goods

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