7. A movement along the supply curve occurs when a price change leads to a change in...

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7. A movement along the supply curve occurs when a price change leads to a change in the quantity supplied.

When economists talk of increasing or decreasing supply, they mean shifts of the supply curveā€”a change in the quantity supplied at any given price. An increase in supply causes a rightward shift of the supply curve. A decrease in supply causes a leftward shift.

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Essentials Of Economics

ISBN: 9781429218290

2nd Edition

Authors: Paul Krugman, Robin Wells, Kathryn Graddy

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