rrobiem Us-Uv aigo
10
In the market for blue shirts, if the technology to make shirts advances and lowers the cost of production,
points
a. Which curve will shift?
References
Neither curve will shift.
Demand
Supply
b. Along which curve will price and quantity move?
Demand
There will not be a movement along a curve.
Supply
c. At the new equilibrium, will price be higher or lower?
O Price will not change.
O Higher
O Lower
d. At the new equilibrium, will quantity be higher or lower?
O Higher
O Lower
Quantity will not change.