Exhibit 3-3 Supply curves

-In Exhibit 3-3,a shift in the supply curve from S₁ to S₂ represents a/an:

Name: Exhibit 3-3 Supply curves -In Exhibit 3-3,a shift in the supply curve from S₁ to S₂ represents a/an:
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Question

Exhibit 3-3 Supply curves
 
-In Exhibit 3-3,a shift in the supply curve from S₁ to S₂ represents a/an:

Quizplus · Accepted Answer

A shift in the supply curve to the right, from S₁ to S₂, represents an increase in supply. This means that at any given price, producers are willing and able to supply a greater quantity of the good or service. Therefore, the answer is C, an increase in supply.

Exhibit 3-3 Supply Curves