As a pricing strategist for Ford Motors, you determine what quantity of Explorers the company should produce at various prices this year—that is, you are to construct the supply curve for Ford Explorers. You begin with last year's supply curve as a framework and note that supply bottlenecks have recently created a microchip shortage, causing the price of microchips to skyrocket. As microchips are an essential component of Explorers, you surmise that, holding other things constant, the supply curve will:
lie to the right of its position last year.
lie to the left of its position last year.
lie directly on the supply curve for last year.
have an unpredictable position relative to last year's supply curve.