A change in price of a good or service typically causes _______ for that specific good or service.
A) a new equilibrium price
B) a change along the supply curve
C) the supply curve to shift
D) a decreased demand

Question

Quizplus · Accepted Answer

A change in price of a good or service causes a movement along the supply curve, not a shift of the curve itself or a change in demand. The supply curve represents the relationship between price and quantity supplied, assuming other factors remain constant.

A Change in Price of a Good or Service Typically