Figure 4.3 shows the supply curves for baby formula.In the figure given below,which of the following changes is likely to result from an increase in the number of firms producing baby formula? 1 to S 2 B) A movement from point a to point b on the supply curve S 1 C) A leftward shift of the supply curve from S 2 to S 1 D) A movement from point c to point d on the supply curve S 2 E) A movement from point b to point a on the supply curve S 1 class=answers-bank-image d-block rel=preload A) A rightward shift of the supply curve from S 1 to S 2 B) A movement from point a to point b on the supply curve S 1 C) A leftward shift of the supply curve from S 2 to S 1 D) A movement from point c to point d on the supply curve S 2 E) A movement from point b to point a on the supply curve S 1

Question

Figure 4.3 shows the supply curves for baby formula.In the figure given below,which of the following changes is likely to result from an increase in the number of firms producing baby formula? 1  to S 2  B) A movement from point a to point b on the supply curve S 1  C) A leftward shift of the supply curve from S 2  to S 1  D) A movement from point c to point d on the supply curve S 2  E) A movement from point b to point a on the supply curve S 1  class=answers-bank-image d-block rel=preload >A) A rightward shift of the supply curve from S 1  to S 2 B) A movement from point a to point b on the supply curve S 1 C) A leftward shift of the supply curve from S 2  to S 1 D) A movement from point c to point d on the supply curve S 2 E) A movement from point b to point a on the supply curve S 1

cielo pantoja · Accepted Answer

Final Answer : A, Explanation :  When the number of firms producing a good increases, the market supply of the good also increases. This leads to a rightward shift in the supply curve, as shown in option A.

Definitions

Learning Objectives

Learning Objectives

Related questions