From Cengage Homework (Ch 04) Back to Assignment Attempts: Do No Harm: 1 7. Move
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From Cengage Homework (Ch 04) Back to Assignment Attempts: Do No Harm: 1 7. Movements along versus shifts of supply curves Consider the market supply of donuts. Complete the following table by indicating whether an event will cause a movement along the supply curve for donuts or a shift of the supply curve for donuts, holding all else constant. Movement Along Shift Event A change in expectations about the future price of donuts An increase in the price of donuts A change in technology that makes it more costly to produce donuts Grade It Now Save & Continue Continue without savingExplanation / Answer
A movement along the demand or supply curve occurs when a change in quantity supplied is caused only by a change in price, and vice versa. A shift in a demand or supply curve occurs when a good's quantity demanded or supplied changes even though price remains the same.
A change in the expectations of future price - shift of supply curve.
An increase in the price of donuts- movement along the supply curve
A change in technology that it makes it costly to produce- shift of supply curve.
An increase in the price of hot dogs- movement along the demand curve.
A change in the tastes of consumers.- shift of the demand curve.
A decrease in the number of consumers- shift of the demand curve.
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