If in the market for peaches, the supply curve has shifted to the left. the supp

Question

If in the market for peaches, the supply curve has shifted to the left. the supply of peaches has decreased. O the supply of peaches has increased O the quantity of peaches supplied has decreased. O the quanity supplied of peaches has increased. D | Question 17 What is the difference between an "increase in supply" and "an increase in quantity supplied"? O An "increase in supply" means the supply curve has shifted to the right whicle an increase in quanity supplied increase in price. O There is no difference between the two terms: they both refer to a movement along a given supply curve An "increase in supply means the supply curve has shifhted to the right, while an "increase in quantity supplied O There is no difference between the two terms; they both refer to a shift of the supply curve. Question 18 One would speak of a change in the quantity of a good supplied, rather than a change in supply, if O supplier expectations about future prices change. O prices of substitutes in production change. 9 the price of the good changes to search

Explanation / Answer

The correct option is the first option. An increase in supply means that the supply curve has shifted to the right. The shift in the supply curve occurs due to exogenous factors(like decrease in the price of inputs of production). At the same price, more can be supplied now.

An increase in quantity supplied highlights a movement along the supply curve. When the price increases, more of the good is supplied by the producer.Here there is change in the quantity supplied due to change in the prices.

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