A shift in supply is defined as a change in
A)Price.
B)Quantity supplied because of a change in price.
C)Equilibrium quantity.
D)The supply curve because of a change in a determinant of supply.

Question

Quizplus · Accepted Answer

A shift in supply is caused by a change in one of the determinants of supply, such as input prices, technology, or number of suppliers. This shift will cause the entire supply curve to shift to the left or right, resulting in a new equilibrium price and quantity. A change in price or quantity supplied due to a change in price is considered a movement along the supply curve, not a shift in supply.

A Shift in Supply Is Defined as a Change in