Which of the following changes would shift the supply schedule to the right?

Question

Quizplus · Accepted Answer

Improvements in technology would reduce the cost of production, which would increase the willingness and ability of suppliers to produce and sell more at every price level, shifting the supply curve to the right. Option A is incorrect because an increase in the price of inputs would increase the cost of production, which would decrease the willingness and ability of suppliers to produce and sell at every price level, shifting the supply curve to the left. Option B is incorrect because an increase in the price of the output would increase the revenue received by suppliers, but it would not directly affect their cost of production or their willingness and ability to produce and sell at every price level, so the supply curve would not shift. Option C is incorrect because a decrease in the price of an alternative product produced with similar resources would increase the demand for that product, but it would not directly affect the supply of the original product, so the supply curve would not shift.

Which of the Following Changes Would Shift the Supply Schedule