Figure 4.5
-Figure 4.5 illustrates the supply of guitars.A technological advancement that makes guitars cheaper to produce would most likely cause a movement from

Question

Quizplus · Accepted Answer

A technological advancement that makes guitars cheaper to produce would shift the supply curve to the right, from S₁ to S₂. This is because producers would be able to supply more guitars at each price level, leading to a lower equilibrium price and a higher equilibrium quantity.

Figure 4.5 -Figure 4.5 Illustrates the Supply of Guitars.A Technological Advancement That