FIGURE 3.10 Shifts in Supply: A Car Example Decreased supply means that at every given price, the quantity
supplied is lower, so that the supply curve shifts to the left, from S0 to S1. Increased supply means that at every
given price, the quantity supplied is higher, so that the supply curve shifts to the right, from S0 to S2.

Price

Decrease to S1 Original Quantity Supplied S0

Increase to S2

$16,000 10.5 million

12.0 million

$18,000 13.5 million

15.0 million

$20,000 16.5 million

18.0 million

$22,000 18.5 million

20.0 million

$24,000 19.5 million

21.0 million

$26,000 20.5 million

22.0 million

TABLE 3.5 Price and Shifts in Supply: A Car Example

13.2 million

16.5 million

19.8 million

22.0 million

23.1 million

24.2 million

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3.2 • Shifts in Demand and Supply for Goods and Services 61

Now, imagine that the price of steel, an important ingredient in manufacturing cars, rises, so that producing a
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