Discuss the difference between change in supply and change in the quantity supplied. List at least one thing that can cause each type of change.
Change in supply refers to the situation in which the suppliers are willing to supply a different amount at all price levels compared to before or in other words at any given price level the supplier is willing to supply a different amount compared to before. Graphically, change in supply corresponds to a shift in the supply curve. Factors that caus e a change in supply for example are change in input prices.
Change in quantity supplied is different. It refers to the situation where there is a chenge in the price of the good and then the supplier supplies the amount at this changed price level. Graphically, the change in quantity supplied corresponds to a movement along the supply curve. A change in the price of the good causes a change in its quantity supplied.
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