Which of the following would shift a supply curve in a perfectly competitive market for a good?
(a) A change in the number of buyers
(b) A change in input prices
(c) A change in price of a consumption complement
(d) A change in the good's price.


Answer :

A change in input prices would shift a supply curve in a perfectly competitive market for a good.

What kind of market has perfect competition?

In a perfect market structure, both producers and consumers have complete and symmetrical information and there are no transaction costs. In this type of scenario, a sizable number of producers and customers are in competition with one another.

The qualities of perfect competitiveness are market with a large number of customers and merchants, free company entry and exit from the market, a uniform product should be offered by every business, both buyers and sellers should be fully informed about the market and no pricing regulation.

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