Exhibit 3-7

-Refer to Exhibit 3-7.If S? is the relevant supply curve,an increase in the price of good X may cause
A) the supply of good X to shift from S1 to S2
B) the supply of good X to shift from S1 to S3.
C) a movement along S1 perhaps from point A to point B.
D) a movement along S1 perhaps from point A to point C.
E) no change in the quantity supplied of good X.

Question

Exhibit 3-7
 
-Refer to Exhibit 3-7.If S? is the relevant supply curve,an increase in the price of good X may cause
A) the supply of good X to shift from S1 to S2 
B) the supply of good X to shift from S1 to S3. 
C) a movement along S1 perhaps from point A to point B. 
D) a movement along S1 perhaps from point A to point C. 
E) no change in the quantity supplied of good X.

Quizplus · Accepted Answer

The Answer of Exhibit 3-7
 
-Refer to Exhibit 3-7.If S? is the relevant supply curve,an increase in the price of good X may cause
A) the supply of good X to shift from S1 to S2 
B) the supply of good X to shift from S1 to S3. 
C) a movement along S1 perhaps from point A to point B. 
D) a movement along S1 perhaps from point A to point C. 
E) no change in the quantity supplied of good X.

Exhibit 3-7 -Refer to Exhibit 3-7.If S? Is the Relevant Supply Curve,an