Asked by
Gazzella Johnson
on Oct 12, 2024Verified
Assume the economy begins at the intersection of D0 S0.Suppose that robots were introduced on the auto assembly line.How would this affect the supply curve?
A) Move along S0.
B) Shift to S1.
C) Shift to S2.
D) No change
Supply Curve
A graphical representation showing the relationship between the price of a good or service and the quantity of that good or service that suppliers are willing and able to provide at each price level.
Auto Assembly
The process of putting together various components of automobiles in a factory setting, an essential part of the automotive manufacturing industry.
Robots
Mechanical or virtual artificial agents, typically programmable by a computer, that can perform tasks automatically or with minimal human intervention.
- Ascertain the consequences of technological progress on supply.
Verified Answer
LR
Learning Objectives
- Ascertain the consequences of technological progress on supply.