Which of the following choices could cause the movement shown in the graph? $120 $90 $60 $30 S2 S1 100 200 300 400 500 Quantity of product M Supplied A. Product becomes more popular B. Tax increase Number of buvers increases Price per Unit of Product M

Which of the following choices could cause the movement shown in the graph? $120 $90 $60 $30 S2 S1 100 200 300 400 500 Quantity of product M Supplied A. Product becomes more popular B. Tax increase Number of buvers increases Price per Unit of Product M

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

100%

Which of the following choices could cause
the movement shown in the graph?
$120
$90
$60
$30
$2
S1
100
200
300
400
500
Quantity of product M Supplied
A. Product becomes more popular
B. Tax increase
C. Number of buyers increases
D. Inputs become cheaper
Price per Unit of Product M

Expert Solution

Step 1

Shift in supply curve occurs due to any factor other than price.

There are two types of shift :

Increase in supply
Decrease in supply

The graph above shown is of decrease in supply.

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