Answer to Question #123920 in Economics for Syed Awais Shah

Question #123920
Explain diagrammatically the difference between extention and contraction of supply and rise and fall in supply ?
1
Expert's answer
2020-06-26T10:18:02-0400


A shift to the right is an extension of the offer, to the left is a narrowing of the sentence.



Movement up - increase in supply, down - decrease in supply.


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