Question

What is the increase in supply and decrease

Answer 1

Answer:

If the price of a good increases or decreases then the supplier of a good will merely move along supply curve. This means that as price increases then suppliers will supply more.  

 

However, there could be a shift in the supply curve which is caused by changes in the con­ditions of supply. Normally, when we speak of an increase or decrease in supply, we are refer­ring to a shift in the curve.

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