What is the difference between an "increase in supply" and an "increase in quantity supplied"?
A) An "increase in supply" means the supply curve has shifted to the right while an "increase in quantity supplied" means at any given price supply has increased.
B) There is no difference between the two terms; they both refer to a shift of the supply curve.
C) An "increase in supply" means the supply curve has shifted to the right while an "increase in quantity supplied" refers to a movement along a given supply curve in response to an increase in price.
D) There is no difference between the two terms; they both refer to a movement along a given supply curve.

Question

Quizplus · Accepted Answer

An "increase in supply" refers to a situation where suppliers are willing and able to sell more of their goods at each price, leading to a rightward shift of the supply curve. An "increase in quantity supplied" occurs when there is a movement along the supply curve due to a higher price, indicating that suppliers are willing to sell more of the good at the higher price, but the overall supply curve does not shift.

What Is the Difference Between an "Increase in Supply" and an "Increase