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Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050

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BuyFindarrow_forward

Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050
Textbook Problem

An increase in _______ will cause a movement along a given demand curve, which is called a change in _______.

a. supply, demand

b. supply, quantity demanded

c. demand, supply

d. demand, quantity supplied

To determine
Relation of demand and supply.

Explanation

Option (b):

An increase in supply implies supply curve shifting to the right, which pushes the price down, which results in movement along the demand curve which is the change in quantity demanded.  Thus, option ‘b’ is correct.

Option (a):

A change in demand implies a shift of the demand curve, which does not occur due to in the increase supply. So option ‘a’ is incorrect...

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