Asked by Katie Uittenbogaard on May 19, 2024
Verified
When the price of desks increases,the:
A) quantity supplied increases.
B) supply increases.
C) quantity supplied decreases.
D) supply decreases.
Quantity Supplied
The amount of a good that producers are willing and able to sell at a given price over a specified period.
Price of Desks
The amount of money required to purchase a desk, determined by factors like supply, demand, and production costs.
Supply
the total amount of a specific good or service that is available to consumers.
- Contrast the navigation along the curve with the displacement of the curve in the realm of demand and supply.
Verified Answer
BH
Brady HearstMay 26, 2024
Final Answer :
A
Explanation :
When the price of desks increases, producers are more willing to supply more desks, leading to an increase in the quantity supplied. This is a movement along the supply curve, not a shift of the supply curve itself.
Learning Objectives
- Contrast the navigation along the curve with the displacement of the curve in the realm of demand and supply.