indicate whether each scenario involves a shift in the supply curve or movement along the supply curve. a…

indicate whether each scenario involves a shift in the supply curve or movement along the supply curve. a. americans sell their gold and silver jewelry as a result of rising prices. b. a national consumer products company produces less of its premium quality soap as a result of lower soap prices. c. amplitude decides to join the smartphone market. d. 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.

indicate whether each scenario involves a shift in the supply curve or movement along the supply curve. a. americans sell their gold and silver jewelry as a result of rising prices. b. a national consumer products company produces less of its premium quality soap as a result of lower soap prices. c. amplitude decides to join the smartphone market. d. 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.

Answer

Brief Explanations:

  • a. When Americans sell more gold and silver jewelry due to rising prices, it is a movement along the supply curve as the change is due to the price of the good itself.
  • b. A company producing less premium - quality soap because of lower soap prices is also a movement along the supply curve as it is a price - related change in quantity supplied.
  • c. Amplitude joining the smartphone market means there is a new supplier in the market, which causes a shift in the supply curve to the right.
  • d. The discovery of a new production method leading to more tuna cans on the shelves is a non - price factor (a change in technology) that causes a shift in the supply curve to the right.

Answer:

a. Movement along the supply curve b. Movement along the supply curve c. Shift in the supply curve d. Shift in the supply curve