Asked by Brianna Ellis on Jul 13, 2024
Verified
Refer to Figure 3.11. An increase in the price of tomatoes (an input for gardenburgers) will cause a movement from Point B on supply curve S2 to
A) supply curve S3.
B) supply curve S1.
C) Point A on supply curve S2.
D) Point C on supply curve S2.
Gardenburgers
A brand or type of meatless burgers made from vegetables and other plant-based ingredients.
Supply Curve
A graph showing the relationship between the price of a good and the amount of it that producers are willing to supply.
Tomatoes
A red or yellowish fruit with a juicy pulp, used as a vegetable in cooking or eaten raw.
- Understand the relationship between price changes and movements along the supply and demand curves.
- Distinguish between shifts of and movements along supply and demand curves.
Verified Answer
BE
Brooke EloraJul 19, 2024
Final Answer :
B
Explanation :
An increase in the price of tomatoes, an input for gardenburgers, would increase the production costs, leading to a decrease in supply. This is represented by a shift to the left of the supply curve, from S2 to S1.
Learning Objectives
- Understand the relationship between price changes and movements along the supply and demand curves.
- Distinguish between shifts of and movements along supply and demand curves.