A change in the price of a good
A)Causes a shift in the supply curve.
B)Results in a change in quantity supplied.
C)Results in a change in supply.
D)Is a determinant of supply.

Question

Quizplus · Accepted Answer

A change in the price of a good results in a movement along the supply curve, which is known as a change in quantity supplied. It does not cause a shift in the supply curve or result in a change in supply. The price of a good is not a determinant of supply, as it is determined by factors such as production costs and technology.

A Change in the Price of a Good