A sudden increase in the level of technology occurs. How will this affect short-run aggregate supply and the macroeconomic equilibrium?

SRAS will shift to the left, the equilibrium price level will rise, and the equilibrium level of GDP will fall.

SRAS will shift to the left, the equilibrium price level will fall, and the equilibrium level of GDP will fall.

SRAS will shift to the right, the equilibrium price level will rise, and the equilibrium level of GDP will rise.

SRAS will shift to the right, the equilibrium price level will fall, and the equilibrium level of GDP will rise.