Figure 3-2
-Refer to Figure 3-2.An increase in the price of the product would be represented by a movement from
A)A to B.
B)B to A.
C)S1 to S2.
D)S2 to S1.

Name: Figure 3-2 -Refer to Figure 3-2.An increase in the price of the product would be represented by a movement from A)A to B. B)B to A. C)S1 to S2. D)S2 to S1.
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Question

Figure 3-2 
-Refer to Figure 3-2.An increase in the price of the product would be represented by a movement from
A)A to B. 
B)B to A. 
C)S1 to S2. 
D)S2 to S1.

Quizplus · Accepted Answer

An increase in the price of the product would shift the supply curve to the left, from S1 to S2. This would result in a movement from point A to point B on the demand curve.

Figure 3-2 -Refer to Figure 3-2.An Increase in the Price of the Price