Exhibit 3-7 -Refer to Exhibit 3-7.If S? Is the Relevant Supply Curve,a

question 21

Multiple Choice

Exhibit 3-7

-Refer to Exhibit 3-7.If S? is the relevant supply curve,a decline in technology in the production of good X causes

• A) the supply of good X to shift from S1 to S2
• B) the supply of good X to shift from S1 to S3.
• C) a movement along S1 perhaps from point A to point B.
• D) a movement along S1 perhaps from point A to point C.
• E) no change in the supply of good X.

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