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Which of the following causes a movement along a supply curve? A) A change in price
Which of the following causes a movement along a supply curve?
A) A change in price.
B) A change in technology.
C) A change in resource costs.
D) All of the above
Expert Solution
The answer to this question is:
A) A change in price.
Movements along the supply curve are caused by changes in the price of the product. On the figure below, when the price of a good increase from P to P1, the quantity supplied increases from Q to Q1. On the supply curve, the increase in the price of a good causes a movement from point F to point H. The other factors such as a change in the cost of resources and change in technology will result in a shift in the supply curve.
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