The cost of producing an item declines due to improved technology.The supply curve should shift to the left.

Question

Quizplus · Accepted Answer

If the cost of producing an item declines, it means that the producer can now produce more at the same cost or the same amount at a lower cost. Therefore, the producer will likely supply more of the item at each price level, causing the supply curve to shift to the right (not to the left).

The Cost of Producing an Item Declines Due to Improved