AI Generated Response: Remember a "change in supply" means a shift in the entire supply curve, whereas a "change in quantity supplied" means a movement along the supply curve, Among the relevant factors causing supply curves to shift are new technologies, changes in input prices, changes in the number of sellers, expectations of future price changes, and changes in the prices of other products that firms might produce. You are now ready to apply the theory of supply. The logic that governs all supply decisions in perfectly competitive markets is as follows: keep expanding output until marginal cost is equal to the price of the product. Now you can see how taxes shift the market and from an economic stand taxes do not help the Business or the Consumer. Producer surplus is a measure of the economic surplus reaped by a seller or sellers in a market. It is the cumulative sum of the differences between the market price and their reservation prices, which is the area bounded above by market price and bounded below by the supply curve. Give an example of this