Sort the following scenarios into whether the change in quantity described is caused by a shift in the supply curve or movement along a supply curve. a. Americans put up their gold and silver jewelry for sale as a result of rising prices
b. A local Fight Club supplies list of its premium quality soap as a result of lower prices
c. Amplitude decides to join the smartphone market
d. After discovering that flash steaming tuna first before using mechanical processes to extract meat removes more tuna flesh, more cans of tuna hit the shelves at all major groceries

movement along a supply curve.

movement along a supply curve.

shift of the supply curve

shift of the supply curve

Explanation:

Only a change in the price of a good leads to a movement along the supply curve for that good. If price increases, there is a movement up along the supply curve and if prices decreases, there is a movement down along the supply curve. This is in line with the law of supply.

according to the law of supply, the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.

Other factors other than changes in the price of the good leads to a shift of the supply curve. Such factors include :

a. As a result of an increase in the price of gold, there is an increase in the supply of these items. this would lead to a movement up along the supply curve

b. Supply decreases as a result of lower prices. this leads to a movement down along the supply curve

c. there is an increase in the suppliers of smartphones. the supply curve would shift to the right

answer blank(1).(2); sharpe;