A reduction in production costs will result in a(n):

Question

Quizplus · Accepted Answer

A reduction in production costs will lead to an increase in supply as producers will be willing and able to supply a larger quantity at any given price. This will result in a rightward shift of the supply curve. Additionally, with lower production costs, producers will be willing and able to supply the same quantity at a lower price, leading to a greater willingness and ability to supply at lower prices as well. Therefore, all of the above options are correct.

A Reduction in Production Costs Will Result in A(n)