Use the following to answer questions: Figure: Supply Shifts -(Figure: Supply Shifts) In the figure, the initial supply curve is S₁. Producers engage in market speculation with the belief that the price of the good will increase in the near future. This would be represented in the figure by shifting the: A) supply curve to S₂, resulting in a lower quantity supplied at each price. B) supply curve to S₂, resulting in a higher quantity supplied at each price. C) supply curve to S₃, resulting in a lower quantity supplied at each price. D) supply curve to S₃, resulting in a higher quantity supplied at each price.

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The Answer of Use the following to answer questions: Figure: Supply Shifts -(Figure: Supply Shifts) In the figure, the initial supply curve is S₁. Producers engage in market speculation with the belief that the price of the good will increase in the near future. This would be represented in the figure by shifting the: A) supply curve to S₂, resulting in a lower quantity supplied at each price. B) supply curve to S₂, resulting in a higher quantity supplied at each price. C) supply curve to S₃, resulting in a lower quantity supplied at each price. D) supply curve to S₃, resulting in a higher quantity supplied at each price.

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