Indicate whether the following will lead to expansion, contraction, increase or decrease in supply.
(i) Installation of a new machine, resulting in fall in cost of production.
(ii) An increase in the price of the given commodity.
(iii) An increase in wages of the employees leading to rise in cost of production.
(iv) A firm deciding to maximise sales instead of profits.
(v) Imposition of tax on the production of a commodity.
(vi) A fall in price of a commodity whose supply curve is being considered.
(vii) An increase in the prices of other commodities.

Explanation

Expansion in supply: (i), Contraction in supply: (vi), Increase in supply: (i), (iv): Decrease in supply (iii), (v), (vii)