Learning Path
Question & Answer
Choose the Best Answer
Decrease in supply
No change in supply
Increase in supply
Increase in demand
Understanding the Answer
Let's break down why this is correct
When technology improves, factories can make more with the same inputs. Other options are incorrect because Some think better tech makes production harder, so supply falls; It is easy to think tech has no effect on supply.
Key Concepts
Shifts in Supply Curve
easy level question
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Deep Dive: Shifts in Supply Curve
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Definition
Shifts in the supply curve occur when factors other than price influence the quantity of a product supplied at each price level. Changes in production costs, technology, government policies, and expectations can shift the supply curve either outward (increase in supply) or inward (decrease in supply).
Topic Definition
Shifts in the supply curve occur when factors other than price influence the quantity of a product supplied at each price level. Changes in production costs, technology, government policies, and expectations can shift the supply curve either outward (increase in supply) or inward (decrease in supply).
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