Answer to Question #62138 in Microeconomics for Lucy

Question #62138
If the level of technology used in the production of a good improves, and assuming the quality of the good does not change, then:
1
Expert's answer
2016-09-20T07:59:03-0400
If the level of technology used in the production of a good improves, and assuming the quality of the good does not change, then: the supply will increase, the supply curve of the good will shift to the right, the equilibrium price will decrease and the equilibrium quantity will increase.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS