Distinguish between Change in supply and change in quantity demanded of a commodity. (Use diagrams)
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change in quantity supplied is a movement along the supply curve in response to a change in price. A change in supply is a shift of the entire supply curve in response to something besides price.
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Explanation:
- A change in quantity supplied is a movement along the supply curve in response to a change in price.
- A change in supply is a shift of the entire supply curve in response to something besides price.
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