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:

Hazardous Waste Disposal

The process of safely disposing materials that are dangerous to human health or the environment in compliance with regulatory standards.

Environmental Protection Agency

A government agency responsible for the regulation and enforcement of laws aimed at protecting the environment.

Vibrations

Oscillations or rapid motions back and forth or up and down, often referenced in physics, engineering, and environmental contexts.

Rail System

A network of tracks, stations, and supporting infrastructure for trains, providing transportation for passengers and freight.