A shift in supply curve indicates that a different quantity will be supplied at each possible price because?
Answer Details
A shift in supply curve indicates that other factors than price have changed, and as a result, a different quantity will be supplied at each possible price. These other factors could include changes in production costs, technology, or government policies that affect the production process. When these factors change, they can cause the overall supply of a good or service to either increase or decrease, which will be reflected in the shift of the supply curve. It is important to note that a shift in the supply curve is different from a movement along the supply curve, which is caused by a change in the price of the good or service. In other words, a shift in the supply curve is caused by changes in factors other than the price, while a movement along the supply curve is caused by a change in price.