Answer to Question #24685 in Microeconomics for maggy iihuhua
2. what is the ifference between a change in the quantity supplied and a shift in the supply curve?
3. explain three assumptions concerning consumer behaviour.
2. Change in the quantity supplied is the move along the supply curve, but the shift in the supply curve is the move of the curve rightward or leftward.
3. 1) Individuals possess complete and perfect info about alternatives in the market
2) Make a decision based on having all the alternatives available/objective info
3) An individuals purchases will not exceed the amount of income
Need a fast expert's response?Submit order
and get a quick answer at the best price
for any assignment or question with DETAILED EXPLANATIONS!