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Otrada [13]
1 year ago
8

there is a technological improvement in the production of good x. as a result, the curve for good x will shift resulting in a(n)

in the equilibrium price of x and a(n) in the equilibrium quantity of x.
Business
1 answer:
bulgar [2K]1 year ago
3 0

There would a shift to the right of the supply curve. The equilibrium price would decrease and the equilibrium quantity would increase.

<h3>What is the impact of technological improvement?</h3>

Technological improvement in the production process means that there is an advancement or update in the technologies that are used in the production process. For example, progress from storing information in files to storing information in the cloud is an example of technological improvement.

A  technological improvement in the production of  a good would make it easier to produce a good. Thus, the supply curve would move forward.

Equilibrium quantity would increase. Due to the increase in quantity supplied, price has to decline in order to induce consumers to buy more of the product.  Equilibrium price would decrease.

To learn more about an increase in supply, please check: brainly.com/question/14727864

#SPJ1

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If the prepaid rent account before adjustment at the end of the month has a debit balance of $2,800, representing a payment made
vampirchik [111]

Answer:

$2,100

Explanation:

Data provided in the question

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And, the monthly rent is $700

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7 0
3 years ago
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Answer:

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Explanation:

Explanation can be seen in the file attached.

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8 0
3 years ago
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The marketing concept is a philosophy that a business organization should employ to satisfy customers' needs while achieving the
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Answer:

A. True

Explanation:

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3 0
2 years ago
Suppose the price of gasoline decreases from $4.20 to $2.00, and in response quantity demanded increases from 10600 to 11200. Us
Tems11 [23]

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0.079

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Formula

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Calculation

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Elasticity of demand =-0.055 / -0.688

Elasticity of demand =-0.079

working

Change in price (2-4.1) = -2.1  

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Coffee Klatch Party Group, a political organization, files a claim to challenge a Delaware statute that limits the liberty of al
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The correct answer is C. This claim is most likely based on the right to substantive due process.

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Substantive due process is a means by which the government's ability to interfere with the fundamental rights of individuals is limited. In this case, the fundamental right violated is that of freedom of expression, guaranteed by the First Amendment. Thus, since it is a right with constitutional protection, the government cannot curtail its operation without the due legal process necessary for this purpose.

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