An increase in the price of milk would be shown by a:

Question

Quizplus · Accepted Answer

An increase in price along a supply curve would result in a movement up and to the right along the curve. A rightward shift of the supply curve would indicate an increase in supply, not an increase in price. A leftward shift of the supply curve would indicate a decrease in supply, not an increase in price. A movement down and to the left along the supply curve would indicate a decrease in price, not an increase.

An Increase in the Price of Milk Would Be Shown