Figure 3.4 Alt text for Figure 3.4: In figure 3.4, a graph of the effect of technological advancement on supply curve.
Long description for Figure 3.4: The x-axis is labelled, Quantity, and the y-axis is labelled, Price.Curve Supply, S1, is a straight line which slopes up from the bottom left corner to the top right corner.2 points, A and B, are marked in the middle of curve S1.Curve S2 follows the same slope as curve S1, but is plotted to the right.A right pointing arrow indicates the change from curve S1 to curve S2.
-Refer to Figure 3.4.A decrease in the price of inputs would be represented by a movement from

Question

Figure 3.4

Alt text for Figure 3.4: In figure 3.4, a graph of the effect of technological advancement on supply curve.
Long description for Figure 3.4: The x-axis is labelled, Quantity, and the y-axis is labelled, Price.Curve Supply, S1, is a straight line which slopes up from the bottom left corner to the top right corner.2 points, A and B, are marked in the middle of curve S1.Curve S2 follows the same slope as curve S1, but is plotted to the right.A right pointing arrow indicates the change from curve S1 to curve S2.
-Refer to Figure 3.4.A decrease in the price of inputs would be represented by a movement from

Quizplus · Accepted Answer

A decrease in the price of inputs would lead to an increase in supply, which is represented by a rightward shift of the supply curve from S1 to S2.

Figure 34 Alt Text for Figure 3