Determinants of SupplyObserve the following table.MonthPrice of crude oil ($ per gallon)Quantity supplied (million gallons)January175February1100March1.2150April1.4200May1.6250June2250 What happened between May and June?There was an upward movement along the supply curve✕ IncorrectFeedback:Since the quantity supplied is unchanged, this cannot be shown as a movement along the curveThere was a downward movement along the supply curveThere was a shift in the supply curve to the rightThere was a shift in the overall supply curve to the left

A movement along the supply curve is the result of a change in _______ , while a shift in the supply curve is the result of a change in ________.Multiple choice question.price; non-price determinantsnon-price determinants; pricedemand; priceprice; demand.

When there is a change in a non-price determinant of supply:Multiple choice question.the supply curve shifts and there is a movement along the demand curve.the supply curve shifts and there is a change in the demand.the supply curve shifts and there is a no change in the quantity demanded.the quantity supplied changes and there is a shift in demand.

Demand and supply often shift in the retail market for gasoline. Below are two demand curves and two supply curves for gallons of gasoline in the month of May in a small town in Maine. Some of the data are missing.Using the table, answer the following questions:Price Quantities Demanded Quantities SuppliedD1 D2 S1 S2$ 7.00 10,000 15,000 18,000 19,000 12,000 16,000 16,000 18,0005.00 17,000 17,000 18,000 12,000 Instructions: Round your answers for price to 2 decimal places. Enter quantities as a whole number.Use the following facts to fill in the missing data in the table. If demand is D1 and supply is S1, the equilibrium quantity is 14,000 gallons per month. When demand is D2 and supply is S1, the equilibrium price is $6.00 per gallon. When demand is D2 and supply is S1, there is an excess demand of 6,000 gallons per month at a price of $4.00 per gallon. If demand is D1 and supply is S2, the equilibrium quantity is 16,000 gallons per month.Compare two equilibriums. In the first, demand is D1 and supply is S1. In the second, demand is D1 and supply is S2.By how much does the equilibrium quantity change?Equilibrium quantity by gallons per month.By how much does the equilibrium price change?Equilibrium price by $ .If supply falls from S2 to S1 while demand simultaneously declines from D2 to D1, does the equilibrium price rise, fall, or stay the same?What happens if only supply falls?What happens if only demand falls?Suppose that supply is fixed at S1 and that demand starts at D1.By how many gallons per month would demand have to increase at each price such that the equilibrium price per gallon would be $6.00? gallons per monthBy how many gallons per month would demand have to increase at each price such that the equilibrium price per gallon would be $7.00? gallons per month

The supply curve shifts in response to changes in non-price of supply. (Enter one word in the blank.)

Change in supply refers to a shift in the position of the supply curve caused by a change in something other than the commodity’s own price.a.Trueb.False