Figure 4-16

-Assume that Figure 4-16 shows the supply of new houses.An improvement in the technology for building houses will shift supply from

Question

Figure 4-16
 
-Assume that Figure 4-16 shows the supply of new houses.An improvement in the technology for building houses will shift supply from

Quizplus · Accepted Answer

An improvement in technology will increase the efficiency of builders and reduce the cost of producing new houses. This will result in an increase in the supply of new houses, shifting the supply curve to the right from S1 to S2.

Figure 4-16 -Assume That Figure 4-16 Shows the Supply of New Houses.An