Exhibit 3-4 Supply curves
-In Exhibit 3-4, a shift in the supply curve from S₁ to S₂ represents a(n) :

Name: Exhibit 3-4 Supply curves -In Exhibit 3-4, a shift in the supply curve from S 1 to S 2 represents a(n):
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Question

Exhibit 3-4 Supply curves -In Exhibit 3-4, a shift in the supply curve from S₁ to S₂ represents a(n):

Quizplus · Accepted Answer

The shift of the supply curve to the right from S₁ to S₂ represents an increase in supply. This is because at any given price level, sellers are willing and able to increase the quantity supplied. As a result, the supply curve shifts to the right to reflect this increase in supply.

Exhibit 3-4 Supply Curves