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7. New factory machines allow GMC to produce more cars more efficiently.How does this affect the Supply schedule? Increase Decrease Factor that shifts the supply line:

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7. New factory machines allow GMC to produce
more cars more efficiently.How does this affect
the Supply schedule?
Increase	Decrease
Factor that shifts the supply line:

7. New factory machines allow GMC to produce more cars more efficiently.How does this affect the Supply schedule? Increase Decrease Factor that shifts the supply line:

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IsabelleMaster · Tutor for 5 years

Answer

<p> Increase</p>

Explain

<p> Supply schedule in economics is a table that shows the quantity suppliers are willing to supply at different given prices during certain period. It's all about the relationship between the price and quantity supplied. Factors like improvement in technology or efficiency can shift the supply schedule. If new factory machines allow GMC to produce more cars efficiently, it means production cost will be reduced. When the cost of production decreases, suppliers will be able to supply more even if the price in market remains the same. This explains an increase in the supply schedule. Therefore, the correct answer should be a factor that would increase the supply. </p>
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