Nike has decided to increase the price for Air Jordans from $75 to $150. what kind of change has occurred in regards to the supply curve

Movement along Supply curve to new Quantity supplied

Explanation:

The Law of Supply holds that when the price of a good or service increases then all else being equal, the quantity supplied will increase as well.

For the Supply curve therefore, should the price of a good increase, there will be a movement (not a shift) along the supply curve to the new quantity that tallies with the quantity that the suppliers (Nike) would like to supply at that price.

A movement along the supply curve occurs when there is a change in price while a shift in the supply curve occurs when there is a change in quantity supplied even though the price remains constant.

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