-Refer to Exhibit 3-9.The production of X is more profitable than it used to be.A number of producers enter the business of producing X.An economist would expect a movement in the market for X from

Question

Quizplus · Accepted Answer

When more producers enter the market for a product because it has become more profitable, this increases the supply of the product. The correct answer reflects a movement from a lower supply position (S₁) to a higher supply position (S₂), indicating an increase in supply.