7. Movements along versus shifts of supply curves Consider the market supply of tortillas. Complete the following table by indicating whether an event will cause a movement along the supply curve for tortillas or a shift of the supply curve for tortillas, holding everything else constant. Event An increase in the price of tortillas A change in expectations about the future price of tortillas A change in technology that makes it less costly to produce tortillas Movement Along O O O Shift

Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN:9781285165875
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
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7. Movements along versus shifts of supply curves
Consider the market supply of tortillas.
Complete the following table by indicating whether an event will cause a movement along the supply curve for tortillas or a shift of the supply curve
for tortillas, holding everything else constant.
Event
An increase in the price of tortillas
A change in expectations about the future price of tortillas
A change in technology that makes it less costly to produce tortillas
Movement Along
O
O
O
Shift
Transcribed Image Text:7. Movements along versus shifts of supply curves Consider the market supply of tortillas. Complete the following table by indicating whether an event will cause a movement along the supply curve for tortillas or a shift of the supply curve for tortillas, holding everything else constant. Event An increase in the price of tortillas A change in expectations about the future price of tortillas A change in technology that makes it less costly to produce tortillas Movement Along O O O Shift
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