One would speak of a movement along a supply curve for a good, rather than a change in supply, if Group of answer choices

1. the cost of producing the good changes.

2. supplier expectations about future prices change.

3. prices of substitutes in production change.

4. the price of the good changes.

Question

Business

Fido

4 November, 04:25

One would speak of a movement along a supply curve for a good, rather than a change in supply, if Group of answer choices

1. the cost of producing the good changes.

2. supplier expectations about future prices change.

3. prices of substitutes in production change.

4. the price of the good changes.

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Answers (1)

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Gwendolyn House · Answer 1

4) the price of the good changes.

Explanation:

A movement along the supply curve means that the supply relationship remains consistent. Therefore, a movement along the supply curve will occur when the price of the good changes and the quantity supplied changes in accordance to the original supply relationship. In other words, a movement occurs when a change in quantity supplied is caused only by a change in price, and vice versa.

One would speak of a movement along a supply curve for a good, rather than a change in supply, if Group of answer choices1. the cost of producing the good changes.2. supplier expectations about future prices change.3. prices of substitutes in production change.4. the price of the good changes.