Chapter 6, Problem 5MCQ

To determine

The question requires us to determine the result of a technological advance in the production of the textbook.

Explanation of Solution

Advancements in technology will enhance the production capacity and will lead to an increase in the supply of textbooks.

Option “c” is correct.

Economics Concept Introduction

Any change in supply will shift the supply curve while any change in quantity supplied will cause the movement along the supply curve.

The supply of a commodity will change due to the following reasons:

• Change in price of relative goods (substitutes and complementary products) 
• Change in technology
• Change in input prices
• Change in expectations
• Change in the number of producers

Any change in the price of the commodity changes the quantity supplied.