An increase in supply is caused by:

Question

Quizplus · Accepted Answer

An advancement in technology for producing the good results in increased efficiency and lower production costs, which can lead to an increase in supply. The other choices are likely to decrease supply: A) higher resource prices would increase production costs, B) fewer sellers in the market would limit the quantity of goods available, and C) suppliers expecting higher prices in the future would likely hold back supply to sell at a higher price later.

An Increase in Supply Is Caused By