In the diagrams below, the subscript "1" refers to the initial position of the curve, while the subscript "2" refers to the final position after the curve shifts.
In which diagrams would we see a shortage at the initial price after the indicated curve has shifted?
Definitions:
Workers
Individuals who perform tasks or jobs for pay, ranging from manual labor to professional occupations.
Units
In economics, units refer to the quantifiable measures used to express the quantity of an item, such as pieces, kilograms, liters, etc., used in transactions or production.
Total Cost
The complete cost of production, encompassing both fixed and variable costs, for a good or service.
Average Fixed Cost
The fixed costs of production divided by the quantity of output produced; decreases as production increases.
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