Option 1 Below is the amount of widgets that Adam: Robert, and Karl are each willing to make at three di'erent prices. 52 per widget $3 per widget: Robert 5 C -E- C a. What is the primary incentive of each producer to make widgets? Producer $1 per widget was III UEII b. mat would happen to the supply of widgets if there was a technological advance that lowered the cost to make widgets? Explain. c. Make a supplyr schedule for the whole market of'widgets= based on these three suppliers. :1. Draw the market supply curve om the schedule in part (c). Label the curve S1. e. Dn your graph from part {d}= illustrate the eect of the technology advance on the supply of widgets. Label the new curve 31. f. Assuming the market situation from part (b). and that producers will not charge less than $1, would the quantity supplied of widgets be more or less than ll widgets? Explain