If an improvement in production technology causes a decrease in production costs,the result is a(n)
A) decrease in quantity supplied
B) increase in demand
C) increase in supply
D) improvement is working conditions
E) increase in quantity supplied

Question

Quizplus · Accepted Answer

An improvement in production technology would lead to a decrease in production costs, which would result in an increase in supply. This is because lower production costs make it more profitable for firms to produce at any given price, leading to an increase in the quantity of goods supplied. The other options are not likely outcomes of an improvement in production technology.

If an Improvement in Production Technology Causes a Decrease in Production