Question

When the price of a good or service changes, select one:
a. the demand curve shifts in the opposite direction.
b. the supply curve shifts in the opposite direction.
c. the supply curve shifts in the same direction.
d. there is a movement along a given supply curve?

Answer 1

The answer is D.

When the price of a good or service changes, there is a movement along a given supply curve. A shift in a demand or supply curve changes the equilibrium price and equilibrium quantity for a good or service.