Which of the following increases the supply of a good and shifts its supply curve rightward?
A) a smaller number of producers
B) a higher wage paid to workers in the industry
C) a technological advance in how the good is produced
D) an increase in the cost of the resources used to produce the good
E) an increase in the price of the good

Question

Quizplus · Accepted Answer

A technological advance in how the good is produced increases the efficiency of production and lowers the cost of producing the good, leading to an increase in supply and a rightward shift in the supply curve.

Which of the Following Increases the Supply of a Good