Question

Click to review the online content. Then answer the questions (s) below, using complete sentences. Scroll down to review additional questions
:online content site 1

What are two factors displayed on a supply curve? How do they cause changes in supply curve (site 1)

Answer 1

Answer:

Price and quantity supplied

Explanation:

The supply curve is a graphic representation of the relationship between the cost of a good and the quantity supplied of this good for a particular time period. Therefore, two factors that are displayed in the supply curve are the price and quantity supplied. The supply curve changes when these factors change too. Normally, as the price of a commodity increases, the quantity supplied increases too (all else being equal). However, changes in production can cause the curve to move left and right. Similarly, changes in price can cause the graph to shift as well.