Economics · Oct / Nov 2019 · Paper 13 · Question 6

There has been a movement upwards along the supply curve of a product. What is the most likely explanation for this?

1. AConsumer incomes have fallen.
2. BNew technology has made the product cheaper to produce.
3. CThe government has imposed a tax on the product.
4. DThe price of a substitute has increased.

As printed in the paper