A new manufacturing technology makes it easier to make the product and causes a shift in the supply curve. What is the new equilibrium point after implementing the new technology? (Hint: Determine which direction a easier production shifts the supply curve and use that direction to pick the resulting equilibrium point.)
$6 and 20,000
$4 and 30,000
$6 and 30,000
$4 and 20,000
Answers: 1
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A new manufacturing technology makes it easier to make the product and causes a shift in the supply...
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