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10 October, 01:56

2. An improvement in technology used by producers of a certain good will result in:

a A decrease in the demand for the good.

b. An increase in the demand for the good.

C. A decrease in the supply of the good.

d. An increase in the supply of the good

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Answers (1)
  1. 10 October, 05:07
    0
    d. An increase in the supply of the good.

    Explanation:

    Under normal circumstances, when production of certain goods that used to be manual is now automated or there is enhancement of technology then, supply for such good will definitely increase.

    It means that there will be faster rate of production due to the technological improvement unlike when production is being done with obsolete equipment or done manually.

    When there is enhancement of technology use to produce certain goods, it will bring about decrease in cost of production for producers and an increase in supply of such goods.
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Home » Business » 2. An improvement in technology used by producers of a certain good will result in: a A decrease in the demand for the good. b. An increase in the demand for the good. C. A decrease in the supply of the good. d. An increase in the supply of the good
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