Question

tu03se11t.03.098
a leftward shift of a supply curve is called a(n):
a. decrease in supply.
b. increase in quantity supplied.
c. decrease in quantity supplied.
d. increase in supply.

Explanation:

A leftward shift of the entire supply curve indicates that at every given price, the quantity supplied by producers is lower than before. This is defined as a decrease in supply, distinct from changes in quantity supplied which are movements along the existing curve caused by price changes.

Answer:

a. decrease in supply.