Although horses were once a very important factor of production, the development of automobiles and other machinery reduced the demand for their use. This is an example of: a higher prices of substitute factors shifting demand for horses to the left. b technological progress shifting the demand for horses to the left. c higher marginal costs for horses, having no impact on the demand for horses. d technological progress shifting the demand for horses to the right. e higher marginal costs for horses, shifting demand for horses to the right.
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