Supply Curve

If both quantity and price are increasing over time, we would expect to see the supply curve

• rise to the right

• rise to the left

• decrease to the right

• decrease to the left

Elasticity of supply indicates

• how quickly a producer can make a product

• how much the product costs

• how responsive producers are to a change in price

• inventory of current supplies

At what price would Simon be willing and able to supply 10500 bottles per year of hand sanitiser?

• $5

• $4.50

• $4

• He wont be willing or able to supply that much

If the price of hand sanitiser increases from $1.50 to $2.50, what will happen to Simon's quantity of hand sanitiser supplied?

• Supply will increase

• Supply will decrease

• Quantity supplied will increase

• Quantity supplied will decrease

What would be an example of a shift in the supply curve to the left?

• A decrease in the price of raw materials

• An increase in the number of producers

• A natural disaster that destroys part of the production capacity

• A technological advancement that makes production more efficient

Which curve shows what would happen to the overall supply of coffee in Citrus Heights if most of the coffee shops closed down.

Which graph shows an increase in quantity supplied?

• Graph A

• Graph B

If the price of hand santisier decreases from $3.00 to $2.00 what will happen to Simon's quantity of hand sanitiser supplied?

• Supply will increase

• Supply will decrease

• Quantity supplied will increase

• Quantity supplied will decrease

How much revenue does Simon receive at a price of $2?

• 2 x 50 = $100

• 2 x 5000 = $10 000

• 20 x 50 = $1000

• 2 x 500 = $1000

Simons quantity supplied of hand sanitiser will decrease if

• The cost increases

• The price increases

• The cost decreases

• The price decreases