What does a movement along the supply curve indicate?Option Change in consumer preferences Change in government policies Change in quantity supplied due to price change Change in demand
Question
What does a movement along the supply curve indicate?Option Change in consumer preferences Change in government policies Change in quantity supplied due to price change Change in demand
Solution
A movement along the supply curve indicates a change in quantity supplied due to price change. This happens when the price of a good or service changes, leading to a corresponding change in the quantity supplied, but all other factors remain constant. This movement can be either upwards or downwards on the supply curve.
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