An increase in the price of a good is shown by a
A) Movement up and to the left along the supply curve
B) Movement down and to the right along the supply curve
C) Movement up and to the right along the supply curve
D) Movement down and to the left along the supply curve

Question

Quizplus · Accepted Answer

An increase in price results in a movement up and to the right along the supply curve. This is because as price increases, suppliers are willing to supply more of the good or service, resulting in a higher quantity supplied.

An Increase in the Price of a Good Is Shown