-Assume that the technology used by firms improves.As a result,supply shifts from _______ to ________ and the equilibrium price moves from __________ to __________.
A) S2;S1;$30;$60
B) S1;S2;$30;$60
C) S2;S1;$60;$30
D) S1;S2;$60;$30
E) S1;S2;$60;$60

Question

-Assume that the technology used by firms improves.As a result,supply shifts from _______ to ________ and the equilibrium price moves from __________ to __________.
A) S2;S1;$30;$60 
B) S1;S2;$30;$60 
C) S2;S1;$60;$30 
D) S1;S2;$60;$30 
E) S1;S2;$60;$60

Quizplus · Accepted Answer

Improved technology increases supply, shifting the supply curve from S1 to S2, leading to a lower equilibrium price from $60 to $30.

-Assume That the Technology Used by Firms Improves