When of the following matters may account for changes in supply?

I - technological advances in an industry

II - changes in labour costs

III - changes in source of supply

IV - changes in levels of taxation

  • A I, II
  • B I, III
  • C II, III, IV
  • D I, II, III, IV
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The correct answer is D. I, II, III, IV

A change in supply also known as shifts of the supply curve is determined by other factors affecting supply except price of the commodity when price is constant.

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