Suppose That a Better Way to Produce a Good Is

question 58

Multiple Choice

Suppose that a better way to produce a good is discovered, thus lowering production costs for the good. This will cause

• A)an increase in supply (a rightward shift of the supply curve).
• B)a movement down the supply curve.
• C)a movement up the supply curve.
• D)a decrease in supply (a leftward shift of the supply curve).
• E)no change in the supply curve, only a change in price.

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Definitions:

High On Trust

A situation or environment where there is a strong belief in the reliability, truth, ability, or strength of someone or something.

Stakeholder Group

A collection of individuals or organizations that have an interest in or are affected by the outcomes of a project or company’s operations.

Primary

Referring to something that is of first importance or serves as the original source.

Strategic

Pertaining to the identification of long-term or overall aims and interests and the means of achieving them.