JAMB UTME - Economics - 2008 | Green Bridge CBT

If 100 units and units of commodity X are supplied at N80 at different times, it means that there is

a change in supply

a change in the quantity supplied

an increase in the quantity supplied

a increase in the quantity supplied

Détails de la réponse

If 100 units and units of commodity X are supplied at N80 at different times, it means that there is a change in the quantity supplied. A change in the quantity supplied refers to a movement along the supply curve due to a change in the price of the commodity. In this case, the price of commodity X is constant at N80, but the quantity supplied has changed from 100 units to some other amount (which is not specified in the question). It is important to note that a change in the quantity supplied is different from a change in supply. A change in supply refers to a shift in the entire supply curve, which can be caused by factors such as changes in production costs, technology, or government policies. In summary, if 100 units and units of commodity X are supplied at N80 at different times, it means that there is a change in the quantity supplied, which refers to a movement along the supply curve due to a change in the price of the commodity.






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