The choice of how much to produce depends on a variety of factors. One of the important factors is the cost of production. Two very important components of the cost of production are resource (input) price and technology. Draw a new supply curve that illustrates changes in supply when the production rise because price have increased and available technology has made production more expensive.

Following are the solution to the given question:

Explanation:

Please find the graph image in th e attachment file.

In the question, it increases the manufacturing prices, which raises the corporation's expenditures, which increases the material production, mostly as a result of a decline in business production of materials, which will cause the aggregate demand through S to S' to be moved to the left.

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.