The difference between a change in supply and a change in the quantity supplied
ID: 1104179 • Letter: T
Question
The difference between a change in supply and a change in the quantity supplied is that the latter is A. conditional upon a change in the former, but not vice versa. () B. shown as a shift in the supply curve while the former is displayed graphically as a movement along a supply curve. ° C. determined by the willingness of producers to sell while the former is set by the ability of firms to produce. D. produced by a change in the product's own price while the former is caused by a variety of variables other than the product's price.Explanation / Answer
The change in supply is caused by the change in factors affecting supply other than its own price while a change in quantity supplied is caused by the change in its own price. In case of the change in supply, supply curve shifts while due to change in the price then there will be movement along the supply curve.
Hence The difference between a change in supply and change in quantity supplied is that latter is produced by the change in the products its own price while the former is caused by a variety of variables other than the product owns price.
Hence option D is the correct answer.