Classify each scenario according to whether the change in quantity is caused by
ID: 1135147 • Letter: C
Question
Classify each scenario according to whether the change in quantity is caused by a shift in the supply curve or movement along the supply curve. Shift of the supply curve Movement along the supply curve Rising wages for construction workers in Toronto result in construction workers moving to Toronto. A national consumer products company produces less of its premium quality soap as a result of lower soap prices After discovering that flash-steaming tuna before using mechanical processes to extract meat removes more tuna flesh, more cans of tuna arrive on the shelves at all major grocers. Americans sell their gold and silver jewelry as a result of rising prices Amplitude decides to join the smartphone market. Scroll Answer BankExplanation / Answer
Ans:
There is a movement along the supply curve when the change in quantity supplied is caused by only change in price.
There is a shift in the supply curve when the change in quantity supplied is caused due to factors other than change in price.
Rising wages for construction workers in Toronto result in construction workers moving to Toronto.
Aftering discovering that flash steaming tuna before using mechanical processes to extract meat removes more tuna flesh, more canes of tuna arrive on the shelves at all major grocers.
Amplitude decides to join the smartphone market.
A national consumers product company produces less of its premium quality soap as a result of lower soap prices.
Americans sell their gold and silver jewelry as a result of rising prices.
Shift of the supply curve Movement along the supplyRising wages for construction workers in Toronto result in construction workers moving to Toronto.
Aftering discovering that flash steaming tuna before using mechanical processes to extract meat removes more tuna flesh, more canes of tuna arrive on the shelves at all major grocers.
Amplitude decides to join the smartphone market.
A national consumers product company produces less of its premium quality soap as a result of lower soap prices.
Americans sell their gold and silver jewelry as a result of rising prices.