An improvement in production technology will shift the

Question

BlackTom AI · Accepted Answer

An improvement in production technology typically makes production more efficient, reduces costs, or increases output capabilities. This improvement affects the firm’s ability to supply more of the good at every price, which is represented graphically by a rightward shift of the supply curve.

Option 1: 'demand curve to the right.' Demand shifts are driven by changes in consumer preferences, income, prices of related goods, expectations, or number of buyers, not by improvements in production technology. Therefore this option misattributes the source of the shift.

Option 2: 'supply curve to the right.' This matches the standard explanation: better technology lowers marginal cost or increases productivity, enabling sellers to offer more quantity at each price, shifting the supply curve outward to the right.

Option 3: 'demand curve to the left.' A leftward demand shift would occur due to a decrease in quantity demanded at each price, driven by factors like falling income or tastes changing against the good. It is not connected to production technology improvements, making this option incorrect.

Option 4: 'supply curve to the left.' A leftward shift of supply would reflect a decrease in supply, such as higher costs or reduced capacity. Since technology improvement increases, not decreases, supply, this option contradicts the typical effect of technological gains.

In summary, the only option that aligns with the economic effect of improved production technology is a rightward shift of the supply curve, reflecting greater supply at each price.

An improvement in production technology will shift the

查看解析

登录即可查看完整答案

类似问题

Part D: An increase in the price of pizza sauce will cause a movement from point B on supply curve S2 to

Part B: An increase in supply is represented by the movement from S2 to

What effect would a new tax on producers likely have on the supply curve?

A student says “Supply of ice cream increases with increasing population”. How will you show this change in the market diagram?

A student says “Supply of ice cream decreases with decreasing population”. How will you show this change in the market diagram?

Figure 4-6Refer to Figure 4-6. The shift from S' to S could be caused by

Select the correct answer about the figure above.

Figure 4-6Refer to Figure 4-6.The shift from S to S' could be caused by an

更多留学生实用工具

考试浏览器助手

风格化写作助手

论文查重助手

文献引用助手

课堂转译助手

课堂笔记助手

Quiz搜索助手

学校历年真题

智能刷题助手

智能匹配练习

希望你的学习变得更简单

An improvement in production technology will shift the

查看解析

登录即可查看完整答案

类似问题

Part D: An increase in the price of pizza sauce will cause a movement from point B on supply curve S2 to

Part B: An increase in supply is represented by the movement from S2 to

What effect would a new tax on producers likely have on the supply curve?

A student says “Supply of ice cream increases with increasing population”. How will you show this change in the market diagram?

A student says “Supply of ice cream decreases with decreasing population”. How will you show this change in the market diagram?

Figure 4-6Refer to Figure 4-6. The shift from S' to S could be caused by

Select the correct answer about the figure above.

Figure 4-6​Refer to Figure 4-6.The shift from S to S' could be caused by an

更多留学生实用工具

希望你的学习变得更简单

Figure 4-6Refer to Figure 4-6.The shift from S to S' could be caused by an