Author Question: An improvement in a firm's technology that reduces its production costs will result in a(n): a. ... (Read 200 times)

Lobcity · **on:** Jun 30, 2018

An improvement in a firm's technology that reduces its production costs will result in a(n):
a. rightward shift of the supply curve.
b. increase in supply.
c. increase in quantity supplied at any given price.
d. all of these are true.

Question 2

If Congress decides to reduce the tax per pack paid by sellers of cigarettes, other things being equal, the price of cigarettes will fall. This fall in prices can be attributed a(n):
a. upward movement along the supply curve for cigarettes.
b. rightward shift of the supply curve for cigarettes.
c. downward movement along the demand curve for cigarettes.
d. leftward shift of the supply curve for cigarettes.