Question

which event would cause the supply curve to shift to the left? in the market for peanut butter, severe weather destroys a large percentage of the peanut crop. in the market for gasoline - powered cars, consumers become enamored of electric vehicles. in the market for cell phones, new sources of rare - earth minerals, used in the production of cell phones along with other electronic devices, are found to be plentiful in rocky mountain states. in the market for hot dogs, a report is issued that says every hot dog a person eats cuts 36 minutes off the persons life expectancy.

Explanation:

A left - shift in the supply curve occurs when the quantity supplied at each price decreases. In the case of peanut butter, severe weather destroying a large percentage of the peanut crop reduces the availability of the key input (peanuts). With less input, producers can make less peanut butter at each price level, causing the supply curve to shift left. In the gasoline - powered cars case, it's a demand shift due to consumer preference change. In the cell - phone case, more available inputs increase supply (shift right). In the hot - dog case, it's a demand shift due to health concerns.

Answer:

In the market for peanut butter, severe weather destroys a large percentage of the peanut crop.