Question

Does a change in produce technology lead to a movement along the supply curve or shift in the supply curve ? Does a change in price lead to a movement along the supply curve or shift the supply curve?

Answer 1

Explanation:

Does a change in producer's technology lead to a movement along the supply curve or shift in the supply curve? ... The supply curve is very similar to the demand curve in that anything not measured on the axis (technology, input prices, expectations, number of sellers) will result in a shift in the supply curveAlthough a change in price of a good or service typically causes a change in quantity supplied or a movement along the supply curve for that specific good or service, it does not cause the supply curve itself to shift.