Figure 4.3 shows the supply curves for baby formula.In the figure given below,the development of more efficient production technologies for baby formula is likely to cause which of the following changes? Figure 4.3

Question

Figure 4.3 shows the supply curves for baby formula.In the figure given below,the development of more efficient production technologies for baby formula is likely to cause which of the following changes? Figure 4.3
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Quizplus · Accepted Answer

The development of more efficient production technologies for baby formula will lower the cost of production, resulting in an increase in supply. This increase in supply will cause a rightward shift of the supply curve from S₁ to S₂.

Figure 43 Shows the Supply Curves for Baby Formula