An improvement in a firm's technology that reduces its production costs will result in a(n):
A. leftward shift of the supply curve.
B. increase in supply.
C. decrease in quantity supplied at any given price.
D. an increase in demand.
Answer: B
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Refer to the figure above. If a price control is imposed at $8, what is the deadweight loss?
A) $10 B) $50 C) $65 D) $85
Refer to the above figure. Suppose there are L4 workers in the union, and the union wants all of its workers to have a job. It will set the wage rate at
A) W1. B) W2. C) W3. D) W4.
When the economy is going strong:
A. firms expand their operations. B. demand for workers decreases. C. GDP growth is negative. D. firms tend to lay off workers.
An increased willingness to lend money to a company can be shown by the
A. Demand for loanable funds shifting to the right. B. Supply of loanable funds shifting to the left. C. Supply of loanable funds shifting to the right. D. Demand for loanable funds shifting to the left.