An increase in production due to better technology is represented by a movement along the supply curve.

Question

Quizplus · Accepted Answer

An increase in production due to better technology is represented by a shift of the supply curve to the right, not a movement along the curve. Movements along the supply curve represent changes in quantity supplied due to price changes, while shifts of the curve represent changes in supply due to factors other than price, such as technology improvements.

An Increase in Production Due to Better Technology Is Represented