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Question 46 Not yet answered Marked out of 1.00 P Flag question A shift in supply curve is caused as a result of changes. O a. income of the consumer O b. price of the product O c. taste and preferences O d. technological Question 47 Not yet answered Marked out of 100 Flag question The Production Possibility Curve is based on the assumption, "No changes in technology" because a. The technology is not an important factor in the production possibility o b. Technological improvement will change the production possibility theory OC. The technology available is used for producing two products only O d. The technological development will reduce efficiency Question 48 Not yet answered Marked out of 1.00 Flag question In order for a price floor to be effective, it must be set the equilibrium price, while a price ceiling must be set the equilibrium price. O a. below; below O b. above, below c. above; above O d. below; above