Questions: Indicate whether each scenario involves a shift in the supply curve or movement along the supply curve. a. Americans sell their gold and silver jewelry as a result of rising prices. b. A national consumer products company produces less of its premium quality soap as a result of lower soap prices. c. Amplitude decides to join the smartphone market. d. After discovering that flash-steaming tuna before using mechanical processes to extract meat removes more tuna flesh, more cans of tuna arrive on the shelves at all major grocers.

The answer is as follows:

a. Americans sell their gold and silver jewelry as a result of rising prices.

• Movement along the supply curve: This scenario describes a response to a change in price, which typically results in movement along the supply curve rather than a shift in the curve itself.

b. A national consumer products company produces less of its premium quality soap as a result of lower soap prices.

• Movement along the supply curve: This scenario also describes a response to a change in price, leading to a movement along the supply curve.

c. Amplitude decides to join the smartphone market.

• Shift in the supply curve: This scenario involves a new entrant into the market, which increases the overall supply of smartphones, resulting in a shift of the supply curve to the right.

d. After discovering that flash-steaming tuna before using mechanical processes to extract meat removes more tuna flesh, more cans of tuna arrive on the shelves at all major grocers.

• Shift in the supply curve: This scenario describes an improvement in production technology, which increases the efficiency of tuna extraction, leading to a shift in the supply curve to the right.

Summary: a. Movement along the supply curve b. Movement along the supply curve c. Shift in the supply curve d. Shift in the supply curve