Figure 3-2

-Refer to Figure 3-2.An increase in the price of the product would be represented by a movement from
A) A to B.
B) B to A.
C) S₁ to S₂.
D) S₂ to S₁.

Name: Figure 3-2 -Refer to Figure 3-2.An increase in the price of the product would be represented by a movement from A) A to B. B) B to A. C) S₁ to S₂. D) S₂ to S₁.
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Question

Figure 3-2
 
-Refer to Figure 3-2.An increase in the price of the product would be represented by a movement from
A) A to B. 
B) B to A. 
C) S₁ to S₂. 
D) S₂ to S₁.

Quizplus · Accepted Answer

An increase in the price of the product would shift the supply curve to the left, from S₁ to S₂, resulting in a movement from A to B.

Figure 3-2 -Refer to Figure 3-2.An Increase in the Price of the the Price