Final answer:
Increasing temperature in the given exothermic reaction will shift the equilibrium to the left, favoring the formation of reactants.
Step-by-step explanation:
According to Le Chatelier's principle, a change in conditions of a reaction at equilibrium will cause the equilibrium to shift in a direction that helps to counteract the change. For the reaction ₂CO₂ (g) ⇌ 2CO (g) + O₂ (g) with a ΔH° of -514 kJ, this change is exothermic, meaning that increasing temperature will add heat to the system. Since heat is considered a product in an exothermic reaction, increasing temperature will shift the equilibrium to favor the formation of reactants, or to the left.
The correct answer to the question is therefore 1) shift the equilibrium to the left.