ABC Photography Co. purchases new computer software that reduces the costs of editing and distributing photos. As a result, the _______.

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BlackTom AI · Accepted Answer

The given item asks: "ABC Photography Co. purchases new computer software that reduces the costs of editing and distributing photos. As a result, the _______."

First, I note that the list of answer options is missing from the provided data. Without the options, I can only explain the relevant economic implication and what a correct option would describe.

Key concept: When a firm's costs of production fall, the cost curve shifts downward, making production cheaper at every output level. In terms of market supply, lower production costs typically cause the firm's supply curve to shift to the right (an increase in supply). This means at each given price, the firm is willing to supply more output because it is now cheaper to produce.

What a correct answer would convey:
- The supply curve for ABC’s photos would shift to the right (an increase in supply) due to lower costs of editing and distributing photos.
- Alternatively, it could be described as: at every price, ABC is willing to supply more photos, or the quantity supplied increases as a result of lower marginal costs.

Why other, non-specified phrasing would be incorrect (in general):
- If an option stated that supply would "increase in quantity supplied" only at a single price level without acknowledging a shift to the right, it would be incomplete because the more precise and standard description is a rightward shift of the entire supply curve.
- If an option claimed that supply would decrease or that costs have no effect on supply, those would conflict with the fundamental supplier response to lower production costs.
- If an option described the demand curve changing (e.g., demand increasing due to cheaper editing), that would be the incorrect sphere here, since the scenario concerns production costs and supply, not consumer demand.

In summary, with lower costs from the new software, ABC Photography Co. would be more willing to supply photos at each price, so the appropriate description is that the supply curve shifts to the right (an increase in supply).

ECON 1023 (002) Finals Exam

ABC Photography Co. purchases new computer software that reduces the costs of editing and distributing photos. As a result, the _______.

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