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22 May, 05:41

What are the two factors displayed on a supply curve? How do they cause changes in the supply curve?

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  1. 22 May, 05:44
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    The quantity and price.

    Whenever a change occurs, the supply curve shifts either left or right. The supply curve will shift to the left if the prices of the resources needed to make the product increase and the seller isn't interested in selling the product for a given price. The opposite will happen if the opposite occurs.
  2. 22 May, 06:00
    0
    Supply curve shift

    The ceteris paribus assumption

    Explanation:

    Supply curve shift: Changes in production cost and related factors can cause an entire supply curve to shift right or left. This causes a higher or lower quantity to be supplied at a given price.

    The ceteris paribus assumption: Supply curves relate prices and quantities supplied assuming no other factors change.
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