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Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050

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BuyFindarrow_forward

Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050
Textbook Problem

Does a change in producers’ technology lead to a movement along the supply curve or to a shift in the supply curve? Does a change in price lead to a movement along the supply curve or to a shift in the supply curve?

To determine
Change in determinants of a supply curve.

Explanation

In addition to price, changes in other determinants of supply such as changes in the producer’s technology will cause the supply curve to shift. If the change in producer’s technology leads to an increase in supply, producers are able to sell more of this good at every price level and i...

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