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Which of the following factors would shift the supply curve for ice cream to the right?...

Which of the following factors would shift the supply curve for ice cream to the right?

A) A new cooling technology emerges.  

B) The price per unit increases.

C The number of producers in the market for ice cream increase.

D) Both A and C

Business   Economics   
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Answer #1

ANSWER: D) Both A and C . An increase in techonology will shift supply curve to the right. Conversely , a decrease in technology will shift supply to the left. An increase in the number of sellers in a market will shift market supply to the right.The number of sellers in a market has a significant impact on supply. When more firms enter a market to sell a specific good or services, supply increase. That is the supply curve shift to right. The use of advanced technology in the production process increases productivity, which makes the production of goods or services more profitable. As a result, the supply curve shift right , i.e supply increaes. But when price of input increases , the firm face higher production costs. As a result , producing goods or services becomes less profitable and firm reduce supply. That is , supply curve shift to the left.

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