Refer to the accompanying figure.When the price changes from P₁ to P₂,we will see a(n) :

Question

Refer to the accompanying figure.When the price changes from P₁ to P₂,we will see a(n):

Quizplus · Accepted Answer

The change in price will result in a movement along the same supply curve, causing a change in the quantity supplied from Q₁ to Q₂. Therefore, the correct answer is a decrease in quantity supplied from Q₁ to Q₂, which corresponds to option C. There is no information provided to suggest that the supply curve will shift, eliminating option E. Options A and B suggest changes in supply, which is incorrect since there is only a change in quantity supplied, not supply itself. Option D is incorrect since an increase in price would lead to a decrease in quantity supplied, not an increase.

Refer to the Accompanying Figure