Answer on Microeconomics Question for saad
A. P* up, Q* down
B. P* up, Q* up
C. P* down, Q* down
D. P* down, Q* up
E. A movement to the left along the supply curve.
Advances in technology often have the effect of lowering the costs of production, allowing suppliers to supply more goods at all prices. For example, the development of pesticides has reduced the amount of damage done to certain crops and therefore has reduced the cost of farming. The result has been an increase in the supply of these crops at all prices, which can be represented by a shift to the right in the supply curves for these crops
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!