New technology would shift which curve in which direction? a

Economics Dec 08, 2020

New technology would shift which curve in which direction?

a. Supply; right

b. Demand; left

c. Supply; left

d. Demand; right

Expert Solution

The correct answer is: a. Supply; right

One of the factors that affect the supply of a product is technology. If there is an improvement in technology or new technology is introduced, this means that firms can now produce their products efficiently. This would result in an increase in the quantity supplied, which is represented by a rightward shift in the supply curve.

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