An Improvement in Production Technology Will

question 60

Multiple Choice

An improvement in production technology will

• A) increase equilibrium price.
• B) shift the supply curve to the left.
• C) shift the supply curve to the right.
• D) shift the demand curve to the left.

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Definitions:

Net Income

The total profit of a company after all expenses and taxes have been subtracted from revenue.

Revenues

The income generated from normal business operations, calculated by multiplying the price of goods or services by the quantity sold.

Dividends Payable

A liability account in a company's balance sheet indicating the amount in dividends that the company owes to its shareholders but has not yet paid out.

Operating Expenses

Expenses incurred from a company's operational activities, excluding the cost of goods sold, taxes, and interest expenses.