If in one period the supply curve is located vertically above its position in an earlier period, what is this an example of?

Question

Quizplus · Accepted Answer

If the supply curve has moved vertically upwards, it means that, at each price level, producers are willing and able to supply less. This is a clear indication of a reduction in supply, represented by a leftward shift of the supply curve, and not an increase in supply as stated in option A. Option B and C are about changes in demand, which is unrelated to the question.

If in One Period the Supply Curve Is Located Vertically