Final answer:
The correct answer that describes an increase in technological knowledge is b. a farmer discovers that yields improve if the fertilizer is used earlier in the growing season, which is about optimizing existing resources rather than adding labor or equipment. Therefore, the correct option is B.
Step-by-step explanation:
An increase in technological knowledge describes a scenario where either a new technology is discovered or an innovative way to use an existing technology is identified, which ultimately leads to improved efficiency or productivity. When taking the provided options into account, the one that best describes an increase in technological knowledge is b. a farmer discovers that yields improve if the fertilizer is used earlier in the growing season. This implies the farmer has gained insight that optimizes the use of fertilizer, thereby potentially reducing costs and increasing yields without requiring additional labor or machinery.
Technological advancements significantly affect the supply curve, shifting it to the right when a firm can produce at a lower cost. This concept reflects what happened during the Green Revolution, when better breeding techniques for seeds allowed for a substantial increase in agricultural productivity. Likewise, inventions like the transistor have spurred innovations that have continuously improved labor productivity and transformed the global economy.