5. Identify the determinants (shifters) of supply A. for each one of these draw the graph and come up with a scenario that would move the supply line left or right, explain what happened and why the line moves (neatness counts) You must explain this short one to two sentences 1. Changes in costs of productive resources 2 Government regulations 3. Number of sellers 4. Technology 5. Education

In the short-run, marginal costs are equal to the change in variable costs as output changes. ( mc = change in variable cost / change in quantity) assume that capital is fixed in the short-run. (a) start with the equation for marginal cost and derive an equation that relates marginal cost of production to the cost and productivity of labor. (b) draw a standard looking short-run marginal cost curve and use the equation you derived to explain its shape.