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Use the following to answer questions:
Figure: Demand, Supply Shifts Use the following to answer questions: Figure: Demand, Supply Shifts   -(Figure: Demand, Supply Shifts)  In the figure, the initial demand curve is D<sub>1</sub> and the initial supply curve is S<sub>1</sub>. If technological innovations lower the costs of production, what will happen? A)  D<sub>1 </sub>will shift to D<sub>3 </sub>and equilibrium price and equilibrium quantity will increase. B)  S<sub>1 </sub>will shift to S<sub>2</sub> and equilibrium price will increase but equilibrium quantity will decrease. C)  D<sub>1 </sub>will shift to D<sub>2</sub> and equilibrium price and equilibrium quantity will decrease. D)  S<sub>1</sub> will shift to S<sub>3</sub> and equilibrium price will decrease but equilibrium quantity will increase.
-(Figure: Demand, Supply Shifts) In the figure, the initial demand curve is D1 and the initial supply curve is S1. If technological innovations lower the costs of production, what will happen?

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Definitions:

Prayer

A spiritual practice involving communication with a deity or deities, often used to express worship, thanks, petition, or confession.

Malwiya Minaret

A distinctive spiraling minaret part of the Great Mosque of Samarra in Iraq, dating back to the 9th century.

Samarra

A city in Iraq, significant for its role in Islamic history and as the site of the Great Mosque of Samarra with its unique spiral minaret.

Directional Marker

A sign or symbol indicating direction, commonly used in navigation or as a wayfinding aid.

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