Which of the following shifts the supply curve for oranges? A) an increase in the number of orange consumers B) disastrous weather that destroys about half of this year's orange crop C) an increase in income for all orange consumers if oranges are a normal good D) a newly discovered increase in the nutritional value of oranges
Supply: Supply for a commodity can be defined as the number of goods and services that are being made available in the market by the producer for the consumer to be consumed. The law of supply is the principle in which the relationship between price and quantity supplied of a commodity is explained, there exists a positive relationship between the price and quantity supplied of a commodity. With the rise in the price of the commodity, the quantity supplied of the commodity tends to rise and vice versa".
The supply curve can be defined as a graph that shows the relationship between the cost of a commodity or service and the amount delivered over time. The price will often display on the left vertical axis, while the quantity delivered will appear on the horizontal axis in a typical instance.
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