Any Improvement in Overall Production Technology That Permits More Output

question 310

Multiple Choice

Any improvement in overall production technology that permits more output to be produced with the same level of inputs causes

• A) a movement up the supply curve resulting in both a higher equilibrium price and quantity.
• B) a rightward shift of the supply curve so that more is offered at each price.
• C) no movement of the supply curve, but a fall in price and a decrease in quantity supplied.
• D) a leftward shift of the supply curve so that less is offered for sale at each price.

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Definitions:

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