7. Movements along versus shifts of supply curves Consider the market supply of peanut butter. Complete the following table by indicating whether an event will cause a movement along the supply curve for peanut butter or a shift of the supply curve for peanut butter, holding all else constant. Event Movement Along Shift An increase in the price of labor (used in the production of peanut butter)       A decrease in the price of peanut butter       A change in technology that makes it less costly to produce peanut butter

Principles of Microeconomics
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ISBN:9781305156050
Author:N. Gregory Mankiw
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Chapter4: The Market Forces Of Supply And Demand
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7. Movements along versus shifts of supply curves

Consider the market supply of peanut butter.
Complete the following table by indicating whether an event will cause a movement along the supply curve for peanut butter or a shift of the supply curve for peanut butter, holding all else constant.
Event
Movement Along
Shift
An increase in the price of labor (used in the production of peanut butter)
 
 
 
A decrease in the price of peanut butter
 
 
 
A change in technology that makes it less costly to produce peanut butter
 
 
 
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