Which of the following will shift the supply curve to the right?

Areduction in the number of sellers
Can increase in technology
Ban increase in the price of the product
Da decrease in the number of customers for the product

Verified Answer :

Rodmyl

The correct answer is C, an increase in technology will shift the supply curve to the right.

The correct answer is C: "an increase in technology".

A supply function represents the quantity of a certain good or service that producers are willing to supply at different prices level, as shown in the photo attached where a supply curve has been graphed. The law of supply states that there is a direct relationship between price and quantity supplied (ceteris paribus).Therefore, when the market price increases, so does the amount that producers desire to supply.

There are external factors which shift the supply curve to the right such as a decrease in the price of inputs or an increase of the available technology. Opposite variations in these factors would trigger shifts to the left instead.