Asked by
deborah condor
on Nov 04, 2024
Verified
A shift of the supply curve is caused by a change in a good's own price.
Supply Curve
represents the relationship between the price of a good and the quantity of that good suppliers are willing to produce and sell, typically upward sloping because higher prices incentivize more production.
Shift
A change in demand or supply where the entire curve moves either right (increase) or left (decrease), signifying changes in market conditions.
- Identify the contrasts between shifts of, and movements along, supply and demand curves.
Verified Answer
BC
Learning Objectives
- Identify the contrasts between shifts of, and movements along, supply and demand curves.