The introduction of new technology can affect the amount of supply a business will produce. Will it cause the supply curve to increase or decrease?

Q: What happens to the supply curve when the there is advancement in technology

A: Solving with the help of graph

Q: In what direction does the supply curve shift when technology is improved? Draw this curve.

A: Technology is an important determinant of supply. When technology is discovered, it reduces many of…

Q: You are informed that the market price of coffee has gone up and that more coffee is being bought.…

A: Demand is the quantity of a good or service that people purchase at different prices during a given…

Q: TRUE OR FALSE? The scarcity of raw materials will result in the shift of the supply curve upward to…

A: The amount of the product that producers deliver to the market at varied prices throughout a…

Q: In the market for coffee, the price has declined by 20% and at the same time the quantity sold has…

A: Demand for a commodity is the desire of the commodity backed by the ability and willingness to pay…

Q: What sort of shift in supply or demand would result in a market equilibrium with higher prices but…

A: Let the initial demand and supply curve be DD and SS respectively. The initial market-clearing price…

Q: Does a change in producers’ technology lead to a movement along the supply curve or a shift in the…

A: Answer to the question is as follows :

Q: A supply curve shows that *       sellers prefer high prices.       supply for the good is present.…

A: A supply curve shows a graphical representation of price of goods and quantity supplied of goods.…

Q: Which of the following would cause the supply curve to shift to the right? An increase in the price…

A: The law of states that as the price of the product rises then quantity falls and as the price of a…

Q: How will the market for melons be affected after Hurricane Dean?

A: Supply Shock: The term supply shock exhibits a rapid or sudden decline or a sudden increase in the…

Q: what sort of shift in supply or demand would result in a market equilibrium with higher prices but…

A: The equilibrium price is known as the prevailing market price. The equilibrium price is the price at…

Q: As the ethanol mandates increase, what happens to the demand for corn (you can think about this as…

A: If the Federal mandates increased the amount of ethanol in gasoline, it means that more ethanol will…

Q: An increase in equilibrium price and a decrease in equilibrium quantity is most likely the result…

A: Answer according to the given question equilibrium price is the price where the supply of the total…

Q: When the price of a product rises, the increase in quantity supplied will generally be greater in…

A: A market is a place where the buyers and the sellers interact with each other and the exchange of…

Q: Give an example of the price of a good changing. Explain what determinant of supply or demand you…

A: Demand: - Demand is the relationship between the quantity demanded and the price of a good. There is…

Q: Ice cream is made from fresh milk. A change occurs in the market for ice cream and the supply of ice…

A: The law of supply refers to the positive relationship between price and quantity supplied. as price…

Q: Which of the following decreases the production of computers and the supply curve shifts left?…

A: Supply curve shows a positive relationship between price and quantity supplied. Increase in price…

Q: What if a t-shirt company ramped up production until there was a huge supply? What positive and…

A: A ramp up is a critical expansion in the degree of output of an organization's items or…

Q: Consider the market for cheese.  If the price of milk increases, what will be the consequences?…

A: The lower prices of milk will lower the production cost for cheese, and cheese producers will…

Q: Determinants of supply What causes the supply curve to shift left or right? This could include,…

A: Determinants of supply refer to those factors that are responsible for the change in supply curves…

Q: According to the Law of Supply, when the price of a good increases, its quantity supplied increases.…

A: In any market, equilibrium corresponds to demand being equal to supply.

Q: In economics, what amount does the demand for a good refer to? The amount people would like to have…

A: In general, demand refers to the ability and desire of a consumer to purchase goods and services and…

Q: The cost of production of a good can increase, which will cause profits to decrease. Will it cause…

A: If the cost of production rises, then the supplier will face increasing costs for every unit of…

Q: Which of the following would not cause a change in supply? a. A decrease in the number of firms in…

A: Supply curve(ss) is an upward (positive) sloping line, which displays the relation between the…

Q: Carefully explain what is happening in the following markets.  Indicate the impact if any on demand,…

A: Substitutes-in-production refer to goods that can be produced using the same resources. The…

Q: What would cause a change in demand, and a change in supply?

A: Change in demand is caused by the demand factors other than price. Therefore the following factors…

Q: For each of the following events, describe in words what happens to the supply, demand, quantity…

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: If the price of beef rises significantly, what will happen in the market for fast-food hamburgers…

A: Beef is one the important input that is used for producing fast-food hamburgers; therefore, as the…

Q: Which of the following best describes what happens when you move along the supply curve? Quantity…

A: The supply curve is the one that graphically shows the positive or direct relationship between the…

Q: Based on the figure below, an increase in the quantity of oil supplied but NOT in the supply of oil…

A: The given graph explains the change in the supply and quantity supplied in the oil market.

Q: TRUE OR FALSE?   An improvement in the technology will reduce the supply of goods while an increase…

A: FACTORS THAT SHIFT SUPPLY CURVE Favourable natural conditions Fall or rise in input cost (cost of…

Q: Which of the following will not shift the supply curve to the left? a) an increase in wages paid to…

A: In economics, the law of supply establishes that prices and quantity supplied are positively related…

Q: Give one example when there is an increase in the supply curve.

A: Supply curve: A supply curve is a curve that shows the relationship between the price or costs of…

Q: Which of the following would not change the supply of a good? A A change in the price of the good. A…

A: The supply shows the positive relationship between the price level and the quantity supplied. The…

Q: What components will cause a Shift in the Supply curve? What happens if a market is out of…

A: A supply curve is a graphical representation of the relationship between the price and quantity…

Q: When the price of pens doubles, demand is reduced by 10%, graph and explain what will result in the…

A: A. when consumer income increases: When the price of pens doubles, demand is reduced by 10%, graph…

Q: Which of the following statements is correct?        Supply will usually increase in response to an…

A: The markets for various goods, and services works upon the basis of the forces of the demand, and…

Q: If the government passes a law that says that a person must be 25 years or older to purchase…

A: When change in demand or supply occurs due to non price factors then demand or supply curve shifts…

Q: If supply is diminished what happens to the price of goods? What happens to the demand for goods?…

A: