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14 September, 09:19

Holding the non-price determinants of supply constant, a change in price would

a. result in a movement along a stationary supply curve.

b. result in either a decrease in supply or an increase in supply.

c. result in a shift of demand.

d. have no effect on the quantity supplied.

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Answers (1)
  1. 14 September, 09:21
    0
    a. result in a movement along a stationary supply curve.

    Explanation:

    When all other factors affecting the quantity demanded and supplied are held constant, a change in price only result in a movement along the demand and supply curve respectively.

    For supply curve, an increase in price of a good will result in an upward movement on the stationary supply curve and vice versa. Whereas, for a demand curve, an increase in price will lead to an opposite effect; a downward movement on the stationary demand curve and vice versa.
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