What type of shift will a technological improvement that lowers production costs for a good cause?
A) a shift of the demand curve to the right
B) a shift of the supply curve to the right
C) a shift of the demand curve to the left
D) a shift of the supply curve to the left

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