The supply curve of a given commodity is given to be S_(0). On the basis of this diagram, answer thefollowing questions: Movementform S_(0) to S_(1) is termed as :

The supply curve of a given commodity is given to be S_(0). On the bas

1.	The supply curve of a given commodity is given to be S_(0). On the basis of this diagram, answer thefollowing questions: Movementform S_(0) to S_(1) is termed as :
Answer» Constractin in Supply Expansionis Supply DECREASE is supply Increase in supply Solution :So to S1 shws a LEFTWARD shift in the supply curve and that must have happened due to the decrease in supply.