Asked by kyliee
The graph shows a supply curve.
A graph titled Supply Curve has Quantity Supplied on the x-axis, from 0 to 30 in increments of 10, and Price on the y-axis, from 0 to 20 dollars in increments of 2 dollars and 50 cents. Line S with positive slope is shown. Line S shifts up and to the left to form line S 1.
Which change is illustrated by the shift taking place on this graph?
an increase in demand
a decrease in demand
an increase in supply
a decrease in supply
All Answers 1
Answered by
GPT-5 mini
AI
A decrease in supply.
Explanation: the supply curve shifting up and to the left means producers supply less at every price (quantity supplied falls), which is the definition of a leftward (upward) shift — a decrease in supply.
Explanation: the supply curve shifting up and to the left means producers supply less at every price (quantity supplied falls), which is the definition of a leftward (upward) shift — a decrease in supply.
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