alculator to help you answer the following questions. You will not be graded on

Question

alculator to help you answer the following questions. You will not be graded on any changes to the calculator; it's just here to help you e questions that follow. Use your mouse to drag the green line on the graph. The values in the boxes on the right side of the calculator will change accordingly.Y directly change the values In the boxes with the white background by clicking in the bax and typing. When you click the Calculate button d any related values will change accordingly CE IThousands of dolars Price of a Sedan Thousands of dollars Quantity Supplied Sedans per month 200 Current Values Initial Values Robet Speed Belts per hourl 2500 Autoworker Wage Dellars per hour 25 0 100 200 300 400 500 400 700 80000 QUANTITY ISedans per month nsider the previous graph. Suppose that the price of a sedan increases from $20,000 to $25,000. This would cause the dans to increase, which is refilected on the graph by a movement along the supply curve. quantity suppliedo supply quantity supplied ollowing a technological improvement-for example, an increase in the speed with which robots can attachbolts to cars-there is a leftward movenent along the supply curve, because the technological improvement makes cars

Explanation / Answer

Suppose the price of a sedan increases from $20,000 to $25,000. This would cause the quantity supplied of sedans to increase, which is reflected by a movement along the supply curve .

Technological improvement: An increase in the speed with which robots can attach bolts to cars- there is a righward shift in the supply curve, because the technological improvement makes cars less costly or less expensive to build.

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