Business Middle School

Change in supply or change in quantity supplied

Change In Supply Or Change In Quantity Supplied

Answers

Answer 1

Usually an increase in price means a decrease in supply and or a raise in demand.  He quickly changes this by increasing the production, thus increasing the supply, lowering the prices.

Hope this helps,

Jeron

Answer 2
Final answer:

Change in supply refers to a shift of the entire supply curve due to factors other than price affecting supply. Change in quantity supplied refers to movements along the supply curve due to changes in price. Both concepts impact the market equilibrium.

Explanation:

In economics, change in supply and change in quantity supplied are two different concepts. A change in supply refers to when a change in some economic variable other than price causes a different quantity to be supplied at every price. An example is when a car manufacturer can produce more cars because of an enhancement in technology, at each price level, more cars will be supplied, and this leads to a rightward shift of the supply curve from S0 to S₂, indicating an increased supply.

On the other hand, a change in the quantity supplied refers to a movement along the same supply curve in response to changes in the price of the good, holding all else constant. For instance, if the price of a car rises, then the quantity of cars supplied increases, and we move up along the same supply curve.

The distinction between these two concepts helps to analyze the effects of various economic events on the market equilibrium – the point where the quantity supplied equals the quantity demanded.

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