Movements along versus shifts of supply curves
Consider the market supply of cereal:
Complete the following table by indicating whether a event will cause movement along the supply curve for cereal or a shift of the supply curve for cereal; holding all else constant:
Event
Movement Along Shift
An increase in the price of cereal
An increase in the price of oats (used in the production of cereal)
A change in expectations about the future price of cereal