Assume that Ford Motor Company engineers achieve a revolutionary technological breakthrough in the production process of automobiles.Which of the following is expected to take place?

Question

Quizplus · Accepted Answer

A technological breakthrough in the production process of automobiles will increase the productivity and efficiency of Ford's production process, leading to a decrease in the cost of production. This will cause the supply curve for Ford automobiles to shift outward, resulting in an increase in the quantity of Ford automobiles supplied at any given price level. Therefore, option E is the correct answer.

Assume That Ford Motor Company Engineers Achieve a Revolutionary Technological