1. If wages or input prices decrease:

The supply curve will stay in place.

The supply curve will shift to the left.

The supply curve will become steeper.

The supply curve will shift to the right.

2. According to the law of supply, a very low price for a cow

Group of answer choices

Signals livestock breeders to raise fewer cows.

Illustrates Benjamin Franklin's principle that time is money.

Signals farmers to purchase fewer cows.

Illustrates the workings of Adam Smith's invisible hand.