1.5 Supply Shift (Practice)
Market for Tacos
Price vs quantity supplied · drag S or point E
How-To
- 1. Read the scenario. Ask: did the price of tacos change, or a determinant of supply?
- 2. Drag the curve left or right to shift supply, or drag point E along S to show a change in quantity supplied. Then tap Finalize.
Change in
Quantity Supplied
movement along the supply curve (caused by price change)
Law of Supply
Direct relationship between price and quantity supplied
Change in
Supply
shift of the entire supply curve (caused by non-price determinants)
Non-price determinants
- Producer Expectations
- Actions of Gov't
- Input costs
- Number of sellers
- Technology