Solved

An Improvement in Overall Technology That Allows More Output to Be

Question 54

Multiple Choice

An improvement in overall technology that allows more output to be produced with the same level of inputs causes:


A) a movement up the supply curve, resulting in both a higher equilibrium price and quantity.
B) a leftward shift of the supply curve so that less is offered for sale at every price.
C) no movement of the supply curve but a fall in price and an increase in quantity supplied.
D) a rightward shift of the supply curve so that more is offered for sale at every price.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents