Question

When new technology for the more efficient production of peanut butter was implemented, the supply curve for peanut butter

Answer 1

Answer:

Shifted to the right

Explanation:

Supply curve is the graphical representation of the relationship between the cost of goods and services and the quantity supplied.

On cost price reduction ,it shifts right but on reduction , it shifts to right.

When new technology is introduced to the production of peanut butter , there will be a reduction in the cost of production as that is one of the major benefits of new technology . Sequel to that is a reduced selling price and the customers will now be willing to buy more at the reduced price and a need for more production of the peanut butter will also arise.

Answer 2

When new technology for the more efficient production of peanut butter was implemented, the supply curve for peanut butter shifted to the right. The correct option among all the options that are given in the question is the second option. I hope that this is the answer that has come to your help.