Exhibit 21-9 ​ Refer to Exhibit 21-9. Let MC₁ and ATC₁ Represent the and ATC₁

Exhibit 21-9 ​

Refer to Exhibit 21-9. Let MC₁ and ATC₁ represent the initial cost curves of a peanut butter producer. In which of the following cases is it most likely that the firm's curves will shift leftward to MC₂ and ATC₂?

A) The market price of peanuts decreases.
B) There is an improvement in technology in the production of peanut butter.
C) The government raises taxes paid by peanut butter producers.
D) The government raises subsidies to peanut butter producers.