suppose that the curves in the figure represent two supply curves for traditional wings (basket of six) at…
suppose that the curves in the figure represent two supply curves for traditional wings (basket of six) at buffalo wild wings. the movement from point a to b on s1 is caused by\na. a decrease in the price of baskets of traditional wings.\nb. a decrease in input prices.\nc. an increase in the price of baskets of traditional wings.
Answer
Brief Explanations:
A movement along a supply - curve is caused by a change in the price of the good itself. When the price of the good increases, there is an upward movement along the supply - curve, and when the price decreases, there is a downward movement along the supply - curve. A change in input prices causes a shift in the supply - curve. Here, the movement from point A to B on S1 is an upward movement along the supply - curve, which is caused by an increase in the price of baskets of traditional wings.
Answer:
C. an increase in the price of baskets of traditional wings