Very short answer

Q1.What happens to the supply curve when there is a decrease in supply ?

Q2.what is meant by movement on the supply curve?

Q3.When is supply of a good said to be price inelastic?

Short answer

Q1. Explain the meaning of contraction of supply and decrease in supply with the help of diagrams.

Q2.Supply curve is the rising portion of Marginal cost curve over and above the minimum of Average
variable cost curve.Do you agree ? Support your answer with valid reason.

Long answer

Q1. “Explain the Distinction between change in quantity supplied and change in supply” Use diagram.