Asksia AI LOGO

Sia

Question
Microeconomics
Posted about 1 month ago

Which of the following describes the movement indicated by the arrow in the graph shown?
Two supply curves

Choose 1 answer:
(A) A decrease in quantity supplied
(B) A decrease in supply
(c) An increase in the supply
(D) An increase in the quantity supplied
Sign in to unlock the answer
Answer from Sia
Posted about 1 month ago
Solution
a
Change in Quantity Supplied: A movement along a supply curve, caused by a change in the price of the good
b
Change in Supply: A shift of the entire supply curve, caused by factors other than the price of the good
c
Graph Analysis: The graph shows two supply curves, S1 and S2, with S2 to the right of S1. The rightward arrow indicates a shift from S1 to S2
d
Interpretation: A rightward shift of the supply curve (from S1 to S2) represents an increase in supply
Answer
(C) An increase in the supply
Key Concept
Supply Curve Shift
Explanation
A rightward shift in the supply curve indicates an increase in supply, meaning that at every price level, a greater quantity is supplied.

Not the question you are looking for? Ask here!

Enter question by text

Enter question by image

Upgrade to Asksia Pro

Join a AskSia's Pro Plan, and get 24/7 AI tutoring for your reviews, assignments, quizzes and exam preps.

Unlimited chat query usages
Strong algorithms that better know you
Early access to new release features
Study Other Question