Exhibit 3-4 Supply curves
In Exhibit 3-4, a shift in the supply curve from S1 to S2 represents a(n):
A. decrease in supply.
B. decrease in the quantity supplied.
C. increase in supply.
D. increase in the quantity supplied.
Answer: C
Economics
You might also like to view...
The function of money that enables money to be used for future purchases is called:
A) medium of exchange. B) store of value. C) unit of account. D) measure of power.
Economics
The expression "increase in quantity supplied" is illustrated graphically as a
A) leftward shift in the supply curve. B) rightward shift in the supply curve. C) movement up along the supply curve. D) movement down along the supply curve.
Economics