Question

suppose that reebok successfully implements 3d printing technology in several of its shoe models, and this investment in technology allows the company to reduce the number of employees used to manufacture these shoes. all else equal, this technological improvement would the equilibrium price for its products and the equilibrium quantity consumed. group of answer choices decrease; decrease increase; increase increase; decrease decrease; increase

Answer 1

This technological change will shift the supply curve to the right and the new equilibrium will be at a lower price level and higher quantity of goods.

What causes the supply curve to shift to the right?

A shift in the number of vendors in a market affects the amount offered at each price and, consequently, the supply. The supply curve moves to the right when the number of suppliers of an item or service increases, and to the left when the number of suppliers decreases.

When demand is steady and supply is increasing, the supply curve moves to the right, creating an intersection where quantity and prices are lower. On the other hand, a negative change in supply causes the curve to move to the left, raising prices and lowering quantity.

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