Question: The difference between a change in quantity supplied and a change in supply is that a change in a. quantity supplied is caused by a
The difference between a change in quantity supplied and a change in supply is that a change in
a. quantity supplied is caused by a change in a good’s own price, while a change in supply is caused by a change in some other variable, such as input prices, prices of related goods, expectations, or taxes.
b. supply is caused by a change in a good’s own price, while a change in the quantity supplied is caused by a change in some other variable, such as input prices, prices of related goods, expectations, or taxes.
c. quantity supplied is a change in the amount people want to sell, while a change in supply is a change in the amount they actually sell.
d. supply and a change in the quantity supplied are the same thing.
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
