Economics: Principles, Problems, and Policies, 19th Edition

Published by McGraw-Hill Education
ISBN 10: 0073511447
ISBN 13: 978-0-07351-144-3

Chapter 3 - Demand, Supply, and Market Equilibrium - Questions - Page 66: 6c

Answer

An increase in the price of rubber used in production of tires would decrease the supply of auto tires

Work Step by Step

Rubber is used in production of auto tires; the increase in its price would increase in cost of production of auto tires. Therefore, supply of auto tires would decrease
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