Refer to the chart you have drawn and answer the following questions : 1. When the hourly rate is $20, compare the quantity of hours students are willing to work at supply levels $2 and 53. 2. When supply increases at all price levels , the supply curve shifts in which direction : right or left ? 3. Explain the difference between an increase in supply and increase in the quantity supplied a. Which is depicted as a movement along the supply curve ? b. Which is depicted as a shift in the supply curve ? Exercise 2: In the table below, complete the following: 1. Record the affect on supply of each of the four determinants 2. In each instance , state if the supply curve shifts right or left . 3. In your own words provide an explanation of the suppliers' reactions