What type of shift will a technological improvement that lowers production costs for a good cause?

Name: What type of shift will a technological improvement that lowers production costs for a good cause?
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Question

Quizplus · Accepted Answer

A technological improvement that lowers production costs will increase the supply of the good, shifting the supply curve to the right. This will lead to a lower equilibrium price and higher equilibrium quantity, as producers are now able to produce and offer more of the good at a lower cost.

What Type of Shift Will a Technological Improvement That Lowers