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Increasing the use of efficient technology causes the supply curve to shift right, while factors like business taxes and subsidies result in a leftward shift.
Increasing the use of more efficient technology by a business will cause the supply curve to shift to the right. This is because improved technology reduces production costs, making it easier for firms to supply more at any given price level, resulting in an increased supply.
On the other hand, increasing business taxes or a decrease in subsidies would typically lead to a leftward shift in the supply curve, as these factors raise costs for businesses, reducing their ability to supply the same quantity at previous price levels.
Therefore, efficient technology is a key determinant that can significantly impact the supply curve in a market.
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