What is the result of a shift in the supply curve?

A shift in the supply curve occurs when there is a change in the conditions affecting supply, resulting in producers being willing or able to sell different quantities at every price level. This shift directly affects the market equilibrium, which is the point where the supply and demand curves intersect, determining the market price and quantity of goods sold.

When the supply curve shifts, it can lead to a new equilibrium price and quantity in the market. For example, if the supply curve shifts to the right, indicating an increase in supply, this typically results in a lower equilibrium price and a higher equilibrium quantity. Conversely, a leftward shift of the supply curve signifies a decrease in supply, which generally raises the equilibrium price and lowers the equilibrium quantity.

The other options relate to different aspects of economics. A change in quantity supplied specifically refers to movement along the supply curve due to a change in price, rather than a shift in the curve itself. A change in demand deals with shifts in the demand curve and is separate from supply shifts. Changes in consumer preferences may influence the demand curve but are not directly related to shifts in supply. Thus, the most relevant outcome of a supply curve shift is the change in market equilibrium.