A Shift in the Supply Curve Is Called

question 173

Multiple Choice

A shift in the supply curve is called:

• A)a 'change in supply'
• B)a 'movement along the supply curve'
• C)a 'change in the quantity supplied'
• D)all of the above

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Definitions:

Output Increases

A rise in the quantity of goods or services produced by a firm or economy.

Scale of Operations

The size or level at which a company or plant is operating, indicating its capacity to produce goods or services.

Average Cost Curve

A graphical depiction showing the cost per unit of output at different levels of production, reflecting the variability in total cost over volume.

Positive Profit

A financial gain that occurs when the revenues received from business activities exceed the expenses, costs, and taxes needed to sustain the activity.