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1) A shift in the supply curve can be caused by: a
1) A shift in the supply curve can be caused by:
a. a shift in demand.
b. a change in one of the determinants of supply.
c. a change in the price of a good.
d. a change in buyers' incomes.
2. If the price of a kayak increases:
a. the supply of kayaks increases.
b. sellers offer fewer kayaks for sale.
c. sellers offer more kayaks for sale.
d. the supply of kayaks decreases.
Expert Solution
1) The answer is option b, a change in one of the determinants of supply. This is because a shift in demand will affect the demand curve. A change in price will cause a movement along the supply curve and will not shift the curve. Change in buyer's income is a determinant of demand and not supply.
2) The answer is option a and c, the supply of kayaks increases and sellers offer more kayaks for sale.
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