In terms of the supply side of the market, the initial consequences of a violation of the "other things being equal" condition is likely to be a

Question

Quizplus · Accepted Answer

The "other things being equal" condition, also known as ceteris paribus, assumes that all other variables except the one under consideration are held constant. A violation of this condition implies that some external factor has changed, which typically results in a shift of the supply curve, not just a movement along it. This is because the supply curve represents the relationship between price and quantity supplied, assuming all other factors remain constant. When those other factors change (such as production costs, technology, or number of suppliers), the entire relationship can change, leading to a shift in the supply curve.

In Terms of the Supply Side of the Market, the Initial