13 Circle the variables that change as we move along the supply curve for pencil, and...

Question

Question

13 Circle the variables that change as we move along the supply curve for pencil, and indicate others assumed to be fixed or

business economics

Answer 1

Answer #1

Supply curve shows the direct relationship between the quantity supplied and the price of the commodity, keeping other factors fixed.

In this question, as we move along the supply curve for pencil, a) quantity of pencils supplied and c) price of pencils will change.

Price of wood, price of pen and subsidies will remain fixed or are irrelevant. ( They can lead to shift in the supply curve, but not a movement)

Answer 2

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