Suppose that the curves in the figure to the right represent two supply curves f

Question

Suppose that the curves in the figure to the right represent two supply curves for traditional wings (basket of six) at Buffalo Wild Wings The movement from point A to B on S, is caused by O A. an increase in the price of baskets of traditional wings. 0 B, an increase in input prices. O c. a decrease in the price of baskets of traditional wings. Indicate which of the following would cause a movement from point A to C. (Check all that apply) A. A decrease in the product's price. B. A decrease in the number of buyers. C. An increase in input prices. D. A decrease in the number of sellers.

Explanation / Answer

The movement from point A to B represents movement along the supply curve S1. It is caused by a decrease in the price of the basket of traditional wings. Therefore, option (c) is correct.

The movement from point A to C represents movement off the supply curve . It is caused by increase in input prices because by increase in input prices supply will go down and shift leftwards. Therefore, option (c) is correct.

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