Question:
The factor that can cause a movement along the supply curve is a change in:
(1) the cost of production.
(2) the price of the good itself.
(3) consumer income.
(4) technology.
(5) the number of suppliers.
Correct Answer:
(2)
Answer Explanation:
A change in the price of the good itself causes a change in quantity supplied, shown as a movement along the supply curve. All other factors (costs, technology, etc.) cause the supply curve to shift.
Topic: Demand & Supply Year: 2024
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