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Suppose that a more efficient way to produce a good is discovered, thus lowering production costs for the good. This will cause rev: 05_02_2018 Multiple Choice a rightward shift of the supply curve. a leftward shift of the supply curve. a movement up along the current supply curve. a movement down along the current supply curve.

Answer :

When an efficient way to produce a good is discovered, there will be A. rightward shift of the supply curve.

What is supply?

Supply simply means the amount of goods and services that the supplier is willing to supply at a particular time.

It should be noted that when an efficient way to produce a good is discovered, there will be a rightward shift of the supply curve as more good will be supplied.

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