An increase in technology increases supply.Group of answer choicesTrueFalse

Which development would most likely cause the supply of a product to increase?A.New technology allows the product to be made more quickly.B.Fewer workers receive the education needed to create the product.C.Government regulations increase the cost of making the product.D.Companies expect the price of the product to fall significantly.

The supply of a good available in a market is likely to decrease when:A.new regulations increase the cost of making the product.B.new technology makes producing the product cheaper.C.the number of workers able to make the product increases.D.companies believe that the product's selling price will go up

When technology increases the supply of a good and lower prices increase the quantity demanded, A. the economy is reallocating resources to achieve an efficient allocation. B. consumer surplus falls. C. the invisible hand is unnecessary. D. the marginal benefit of the good increases with the quantity produced. E. the economy is no longer efficient because the quantity changes.

How would a new advance in manufacturing technology most likely affect the supply of the good being produced?A.The supply of the good would fall.B.The supply of the good would not be affected.C.The supply of the good would increase.D.The supply of the good would remain the same.

Which of the following enables society to produce more goods with current resources?Multiple choice question.Decreases in entrepreneurial abilityDecreases in laborAdvances in technologyIncreases in population