5) If in the market for apples the supply has decreased, then A) the supply curve for apples has shifted to the right. B) there has been a movement upwards along the supply curve for apples. C) the supply curve for apples has shifted to the left. D) there has been a movement downwards along the supply curve for apples.

Question

Business

Jennifer Rubio

31 May, 05:27

5) If in the market for apples the supply has decreased, then A) the supply curve for apples has shifted to the right. B) there has been a movement upwards along the supply curve for apples. C) the supply curve for apples has shifted to the left. D) there has been a movement downwards along the supply curve for apples.

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Answers (1)

Know the Answer?

Hector Shepherd · Answer 1

The correct answer is letter "C": the supply curve for apples has shifted to the left.

Explanation:

The supply curve plots in a graph the relationship between the price and quantity supplied of a good or service. According to the supply law, that relationship is directly proportional meaning if the price rises the quantity demanded increases - the supply curve moves to the right - but if the prices fall the quantity demanded drops - the supply curve moves to the left.