A new technological breakthrough increases production for an industry and shifts the supply curve to the right. If the firm ________, then the firm will likely be happy about this new technology.   Question 44 options:   a)  produces products because the consumer will buy less   b)  produces products that are considered inelastic   c)  decreases production   d)  produces products that are considered elastic

Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
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Chapter7: Consumer Choice And Elasticity
Section: Chapter Questions
Problem 9CQ
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A new technological breakthrough increases production for an industry and shifts the supply curve to the right. If the firm ________, then the firm will likely be happy about this new technology.
 

Question 44 options:

 

a) 

produces products because the consumer will buy less
 

b) 

produces products that are considered inelastic
 

c) 

decreases production
 

d) 

produces products that are considered elastic
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