Which of the following would result from a technological advance in a perfectly competitive market?

Question

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In a perfectly competitive market, a technological advance will lead to an increase in supply, which will shift the supply curve to the right. As a result, the equilibrium price will decrease, and consumers will benefit from lower prices. Producers, on the other hand, will not benefit in the long run because the increased supply will eventually lead to lower profits. The market demand curve will not shift because the technological advance does not affect consumer preferences or incomes. The market supply curve will not shift leftward in response to a technological advance. In a constant-cost industry, the entry of new firms will keep prices from increasing, but a technological advance will still lead to lower prices in the short run.

Which of the Following Would Result from a Technological Advance