Suppose there is an improvement in the technology associated with the production of milk. This will result in:

Question

Quizplus · Accepted Answer

An improvement in technology associated with milk production means that it can be produced more efficiently and at a lower cost. This will result in an increase in the supply of milk, as producers are now able to supply more milk at a lower cost, resulting in a rightward shift of the supply curve.

Suppose There Is an Improvement in the Technology Associated with the Production