ECONOMICS
SUPPLY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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There will be an increase in S
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There will be a decrease in S
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There will be an increase in QS
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There will be a decrease in QS
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There will be a change in Demand-so supply is unaffected
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Detailed explanation-1: -The supply curve demonstrates the relationship between a good’s price and the quantity producers are willing and able to supply. The upward sloping line demonstrates this direct relationship: as the price rises, the quantity supplied increases; as price decreases, quantity supplied decreases.
Detailed explanation-2: -Understanding Change in Supply An increase in the change in supply shifts the supply curve to the right, while a decrease in the change in supply shifts the supply curve left. Essentially, there is an increase or decrease in the quantity supplied that is paired with a higher or lower supply price.
Detailed explanation-3: -The supply of a good increases if the price of one of its complements in production rises. The supply a good decreases if the price of one of its complements in production falls. Resource and input prices influence the cost of production.
Detailed explanation-4: -If there is an decrease in supply ( S) the supply curve moves to the LEFT. At the same prices, the quantities supplied will be smaller.