A more efficient means of processing tree bark to produce an anticancer drug is discovered. As a result, the supply curve for the drug will:
A)shift to the right, increasing the price of the drug.
B)shift to the left, increasing the price of the drug.
C)shift to the right, decreasing the price of the drug.
D)shift to the left, decreasing the price of the drug.

Question

A more efficient means of processing tree bark to produce an anticancer drug is discovered. As a result, the supply curve for the drug will:
A)​shift to the right, increasing the price of the drug.
B)​shift to the left, increasing the price of the drug.
C)​shift to the right, decreasing the price of the drug.
D)​shift to the left, decreasing the price of the drug.

Quizplus · Accepted Answer

A more efficient means of processing tree bark to produce an anticancer drug would increase the supply of the drug, represented by a shift to the right of the supply curve. This increase in supply, assuming demand remains constant, would lead to a decrease in the price of the drug.

A More Efficient Means of Processing Tree Bark to Produce