Figure 4-7
-Refer to Figure 4-7.The shift from S to S' is called

Question

Figure 4-7 
-Refer to Figure 4-7.The shift from S to S' is called

Quizplus · Accepted Answer

The shift from S to S' represents an increase in supply. This is because at any given price level, there is a greater quantity of the good being supplied in the market. A decrease in supply would be indicated by a leftward shift of the supply curve (such as from S to S''), which would mean that at any given price level, there is less of the good being supplied in the market.

Figure 4-7 -Refer to Figure 4-7.The Shift from S to S' Is