Question

Which of the following is likely to shift the supply curve right?

Answer 1

An improvement in technology that reduces the cost of production, an improvement in product quality, and an increase in need can all shift the supply curve to the right.

Step-by-step explanation:

An improvement in technology that reduces the cost of production is likely to shift the supply curve to the right. This can be shown as a rightward (or downward) shift in the supply curve. For example, if a new machine is invented that allows producers to make the product more efficiently, it would reduce their costs and enable them to supply more at each price level.

Another factor that can shift the supply curve to the right is an improvement in product quality. If the quality of the product improves, consumers may demand more of it at any given price. This increase in demand would lead to an increase in supply, or a rightward shift in the supply curve.

Lastly, an increase in need can also cause an increase in demand, leading to a rightward shift in the demand curve. For instance, if there is a sudden increase in the need for a particular product, consumers would demand more of it, resulting in an increased supply to meet the demand.

Answer 2

A technological improvement that reduces costs of production will shift supply to the right, so that a greater quantity will be produced at any given price. Government policies can affect the cost of production and the supply curve through taxes, regulations, and subsidies.

What are five things that will shift a supply curve to the right?

changes in non-price factors that will cause an entire supply curve to shift (increasing or decreasing market supply); these include

1) the number of sellers in a market,

2) the level of technology used in a good's production,

3) the prices of inputs used to produce a good,

4) the amount of government regulation, ...

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