What would be the likely effect of improved technology on supply?

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BlackTom AI · Accepted Answer

Question restatement: What would be the likely effect of improved technology on supply?

Option context: The provided data includes a single stated answer, 'b. Increase', but no list of other answer choices is given to compare or contrast.

Reasoning about the concept: When technology improves, firms can produce goods more efficiently, reduce per-unit costs, automate processes, and streamline operations. These improvements typically enable producers to supply more at every price level, shifting the supply curve to the right and increasing overall supply.

Why this option makes sense: If the question intends that improved technology increases supply, this aligns with standard economic reasoning that technological progress lowers production costs and increases productivity, which incentivizes higher quantity supplied.

Why other options cannot be evaluated here: Because no additional options are provided, I cannot assess alternative statements or identify potential misconceptions they might address. In a complete item with multiple choices, we would compare how each option aligns with the impact of technology on supply and explain why some would be incorrect (e.g., claiming supply decreases, or that technology affects demand only).

Summary of the core idea: Without alternative choices to critique, the core concept remains that improved technology tends to boost supply by reducing costs and enabling higher output, which is consistent with a rightward shift of the supply curve.

What would be the likely effect of improved technology on supply?

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Similar Questions

当经济学家谈论供给时，他们指的是每单位销售产品的价格与_________________之间的关系。

The relationship between the quantity of a good or service sellers are willing to offer for sale at different prices is:

When the supply curve shifts to the right, what does it indicate?

When the supply curve shifts to the right, what does it indicate?

An increase in production costs at any given quantity:

A decrease in a per unit production subsidy:

Supply refers to

Supply refers to

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