3.5 Market Effects of Changes in Supply
Figure 3.4
-Figure 3.4 illustrates the supply of tacos. A decrease in the supply of tacos is represented by a movement from

Question

3.5 Market Effects of Changes in Supply
  Figure 3.4
-Figure 3.4 illustrates the supply of tacos. A decrease in the supply of tacos is represented by a movement from

Quizplus · Accepted Answer

A decrease in the supply of tacos would be represented by a shift of the supply curve from a position of higher supply to a position of lower supply, which is depicted by moving from S₂ to S₁.