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Your answer is: Changes in production cost and related factors can cause an entire supply curve to shift right or left. This causes a higher or lower quantity to be supplied at a given price. A demand curve or a supply curve is a relationship between two, and only two, variables: quantity on the horizontal axis and price on the vertical axis. The assumption behind a demand curve or a supply curve is that no relevant economic factors, other than the product’s price, are changing.

Changes in production cost and related factors can cause an entire supply curve to shift right or left. This causes a higher or lower quantity to be supplied at a given price. The ceteris paribus assumption: Supply curves relate prices and quantities supplied assuming no other factors change.

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marvineetesh3

The price is not treated as the factor in influencing a left or right shift in the demand curve, as there is the change in the other factors than the price. The rightward shift in demand curve means that more goods are demanded as the constant price.

What is demand curve?

The demand curve is defined as the graphical representation of demand schedule that shows the relationship of price and quantity demanded.

A complete supply curve might shift right or left due to changes in manufacturing costs and related factors.

As a result, at an assumption price, a lower or higher amount is supplied. A demand or supply curve is a graphical representation that shows the relationship between quantity and prices.

Therefore, a demand curve is based on the supposition that no related economic factors, other than the product's price, are changing.

To learn more about the demand curve, refer to:

https://brainly.com/question/13131242?referrer=searchResults

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