When the price of a good or service changes, select one:

a. the demand curve shifts in the opposite direction.

b. the supply curve shifts in the opposite direction.

c. the supply curve shifts in the same direction.

d. there is a movement along a given supply curve?

Question

Samir Medina

Business

20 January, 02:58

When the price of a good or service changes, select one:

a. the demand curve shifts in the opposite direction.

b. the supply curve shifts in the opposite direction.

c. the supply curve shifts in the same direction.

d. there is a movement along a given supply curve?

+4

Answers (1)

Know the Answer?

Melody Vincent · Answer 1

The answer is D.

When the price of a good or service changes, there is a movement along a given supply curve. A shift in a demand or supply curve changes the equilibrium price and equilibrium quantity for a good or service.

When the price of a good or service changes, select one:a. the demand curve shifts in the opposite direction.b. the supply curve shifts in the opposite direction.c. the supply curve shifts in the same direction.d. there is a movement along a given supply curve?

When the price of a good or service changes, select one:

a. the demand curve shifts in the opposite direction.

b. the supply curve shifts in the opposite direction.

c. the supply curve shifts in the same direction.

d. there is a movement along a given supply curve?