Asked by Tabitha Mooney on Jul 07, 2024

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Which of the following is most likely to shift the supply curve for a product to the right?

A) An increase in the price of a resource used in the good's production
B) The expectation of a higher price in the near future
C) An increase in the price of the product
D) A decrease in the price of an alternative good
E) An improvement in the technology for producing the good

Technology Improvement

Enhancements or advancements in technology that increase productivity, efficiency, and capabilities within industries or society.

Supply Curve

A graphical representation showing the relationship between the price of a good or service and the quantity thereof that producers are willing to supply.

Alternative Good

A product or service that consumers may choose as a substitute for another good or service.

  • Examine how technological progress influences supply.
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Waqar SaleemJul 11, 2024
Final Answer :
E
Explanation :
An improvement in the technology for producing the good will likely lead to an increase in the efficiency of production and a decrease in the costs of production, which will encourage producers to supply more of the good at each price level. As a result, the supply curve for the product will shift to the right.