An increase in the price of Lays potato chips causes the supply curves for this product to shift up and to the left.

Name: An increase in the price of Lays potato chips causes the supply curves for this product to shift up and to the left.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

An increase in the price of Lays potato chips would cause a movement upwards along the supply curve, not a shift. A shift in the supply curve would be caused by factors such as changes in production costs, technology, or regulations.

An Increase in the Price of Lays Potato Chips Causes