Exhibit 3-4 Supply curves

-In Exhibit 3-4,a shift in the supply curve from S₁ to S₂ represents a(n):

Name: Exhibit 3-4 Supply curves -In Exhibit 3-4,a shift in the supply curve from S₁ to S₂ represents a(n):
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Question

Exhibit 3-4 Supply curves
 
-In Exhibit 3-4,a shift in the supply curve from S₁ to S₂ represents a(n):

Quizplus · Accepted Answer

A shift to the right in the supply curve (from S₁ to S₂) represents an increase in supply, as producers are willing to supply a greater quantity at every given price. Therefore, the correct answer is C, an increase in supply.

Exhibit 3-4 Supply Curves