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Hannah Schubert
on Nov 17, 2024

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If there is an improvement in the technology used to produce a good, then the supply curve for that good will shift to the left.

Improvement

A process or action that makes something better, more efficient, or more effective.

Technology

The application of scientific knowledge for practical purposes, especially in industry.

Supply Curve

A graphical representation showing the relationship between the price of a good and the amount of it that sellers are willing to supply.

  • Analyze how technological advances affect supply.
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Anjali BharadwajNov 21, 2024
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