Figure 11-1

In Figure 11-1, a cost-reducing technological breakthrough in calculator production would cause which movement?

Question

Figure 11-1 ​

In Figure 11-1, a cost-reducing technological breakthrough in calculator production would cause which movement?

Quizplus · Accepted Answer

A cost-reducing technological breakthrough in calculator production would shift the supply curve to the right, indicating that producers are willing to supply more calculators at any given price. This would cause movement along the demand curve from point A to point B, resulting in a lower equilibrium price and higher equilibrium quantity.

Figure 11-1 ​ In Figure 11-1, a Cost-Reducing Technological Breakthrough in Calculator Production

Figure 11-1 In Figure 11-1, a Cost-Reducing Technological Breakthrough in Calculator Production