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Question：The supply curve for sofas has moved to the right. Which of the following could have caused this shift?
A. A decrease in the cost of horsehair (a raw material used in making sofas)
B. A decrease in the price of futons (a substitute)
C. A decrease in the price of sofas
D. A decrease in the wage rate in the futon industry
The correct answer is: A decrease in the cost of horsehair (a raw material used in making sofas)
As costs incurred in a producing sofas have fallen, producers will be prepared to produce more at any given price. A change in the price of sofas will lead to a movement along the supply curve. A decrease in the price of a substitute will lead to a decrease in the demand for sofas.
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