-Assume That the Technology Used by Firms Improves

question 19

Multiple Choice

-Assume that the technology used by firms improves.As a result,supply shifts from _______ to ________ and the equilibrium price moves from __________ to __________.

• A) S2;S1;$30;$60
• B) S1;S2;$30;$60
• C) S2;S1;$60;$30
• D) S1;S2;$60;$30
• E) S1;S2;$60;$60

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Definitions:

Equality

The state of being equal, especially in status, rights, and opportunities.

Federalist Papers

A series of 85 essays written by Alexander Hamilton, James Madison, and John Jay promoting the ratification of the United States Constitution.

James Madison

The fourth President of the United States, serving from 1809 to 1817, and is considered one of the Founding Fathers of the country.

Alexander Hamilton

A Founding Father of the United States, known for his contributions as an economist, political philosopher, and as the first Secretary of the Treasury.