Solved

What Is the Difference Between a Change in Quantity Supplied

Question 33

Multiple Choice

What is the difference between a change in quantity supplied and a change in supply?


A) A change in supply and a change in the quantity supplied are the same thing.
B) A change in quantity supplied is a change in the amount people want to sell, while a change in supply is a change in the amount they actually sell.
C) A change in quantity supplied is caused by a change in a good's own price, while a change in supply is caused by a change in some other variable, such as input prices, prices of related goods, expectations, or taxes.
D) A change in supply is caused by a change in a good's own price, while a change in the quantity supplied is caused by a change in some other variable, such as input prices, prices of related goods, expectations, or taxes.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions