ECONOMICS
SUPPLY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A new law requires battery manufacturers to spend more money on environmentally safe batteries
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Workers at a major battery factory go on strike and stop production
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Battery manufacturers raise the price of a package of AA batteries form 3.50 to 3.95
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A new trade agreement enables stores to import foreign batteries
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Detailed explanation-1: -Answer and Explanation: A movement along the supply curve is when there is a change in the quantity supplied due to a change in the price of the commodity.
Detailed explanation-2: -A change in price causes a movement along the supply curve; such a movement is called a change in quantity supplied. As is the case with a change in quantity demanded, a change in quantity supplied does not shift the supply curve.
Detailed explanation-3: -A rise or fall in the price of the commodity alone causes a movement along the supply curve (ceteris paribus).
Detailed explanation-4: -Answer and Explanation: The correct answer is: A) A change in price. Movements along the supply curve are caused by changes in the price of the product.