TEST 1 Chapters 1419 20150 MINTIME LIMIT Question 14 14 A ch

TEST 1 Chapters 1-4,19, 20-150 MIN.TIME LIMIT Question 14 14. A change in the price of a good O Results in a change in supply. O Results in a change in quantity supplied O Causes a shift in the supply curve. Is a determinant of supply. esc 20 F2

Solution

C. causes to shift in the supply curve.

Reason: Change in price of goods depends upon the demand, supply and production determinants who affects the slope of supply curve; Example: Demand rises ,Supply rises so Price of goods down and vice versa. cross demand and complementary demands of goods also affects the slope of supply curves as a result goods price changes.