Question

Following a technological decline—for example, a decrease in the speed with which robots can attach bolts to cars—there is a the supply curve because the technological decline makes cars.

Answer 1

Answer:

there is a leftward shirt of the supply curve because the technological decline makes cars more expensive to build.

Explanation:

In the supply curve, the change in the supply of goods and services when the prices of goods and services change is plotted while other factors are kept constant. A decrease in technology will result in a reduction in the production of goods if the inputs remain unchanged. Therefore, if the robots are slow, the number of cars produced will be fewer and as such the goods supplied will be lower than those produced and supplied when the robots are faster.