A manufacturer cuts the price of its goods after creating a more efficient manufacturing process. It produces leather belts that compete with belts made from artificial material. What outcomes are likely to result from the change in the manufacturing process?
- Asupply of leather belts decreases; price of artificial belts decreases
- Bsupply of leather belts decreases; price of artificial belts increases
- Csupply of leather belts increases; price of artificial belts decreases
- Dsupply of leather belts increases; price of artificial belts increases