Which of the following statements is false?
A) The shift factors for the supply curve are: income,preferences,prices of related goods,the number of buyers,and expectations of future price.
B) A change in (own)price changes the quantity supplied of a good.
C) A change in demand is graphically represented by a shift in the demand curve.
D) A change in quantity demanded is represented by a movement along a given demand curve.

Question

Quizplus · Accepted Answer

The shift factors for the supply curve are: prices of inputs, technology, prices of related goods, the number of sellers, and expectations of future prices. Income and preferences are shift factors for the demand curve, not the supply curve.

Which of the Following Statements Is False