Answer
shift of
movement along
Work Step by Step
When the supply changes because of changes in the factors of production the entire supply curve shifts. When the quantity supplied changes this leads to a new point on the supply curve.
Microeconomics: Principles, Applications, and Tools (8th Edition)
by O'Sullivan, Arthur; Sheffrin, Steven; Perez, Stephen
Published by
Prentice Hall
ISBN 10:
0-13294-886-9
ISBN 13:
978-0-13294-886-9
Chapter 4 - Demand, Supply, and Market Equilibrium - Exercises - 4.5 Market Effects of Changes in Supply - Page 94: 5.1
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