Asked by Peter Mauno on Mar 10, 2024

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If we go from point J on supply curve S1 to point K on supply curve S2,then we may conclude that there was

A) an increase in quantity supplied.
B) a decrease in quantity supplied.
C) an increase in supply.
D) a decrease in supply.

Supply Curve

A graphical representation showing the relationship between the quantity of a good supplied and its price.

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a given price level in a market.

Increase in Supply

A situation where the quantity of a good or service that producers are willing to sell at a given price rises.

  • Differentiate between changes in position along a curve and the curve's lateral transitions.
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JS
Joselyn Solano

Mar 10, 2024

Final Answer :
C
Explanation :
Moving from point J on supply curve S1 to point K on supply curve S2 indicates an increase in supply, as more quantity is being supplied at the same price.