Multiple Choice
Exhibit 4.3

-Refer to Exhibit 4.3, which shows the supply curves of baby formula. Which of the following is likely to result from an increase in the price of baby formula?
A) a movement from point a to point b on the supply curve S₁
B) a leftward shift of the supply curve from S₂ to S₁
C) a movement from point d to point c on the supply curve S₂
D) a rightward shift of the supply curve from S₁ to S₂
E) a movement from point b to point a on the supply curve S₁
Correct Answer:
Verified
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