An economic model of technology adoption uses a graph where the vertical axis represents the rate of new electric vehicle (EV) adoption and the horizontal axis represents the current market share of EVs. A government introduces a policy that provides significant, long-term funding for battery research, successfully lowering the production cost of all EVs. How would this policy's impact be represented on the graph?
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An economic model of technology adoption uses a graph where the vertical axis represents the rate of new electric vehicle (EV) adoption and the horizontal axis represents the current market share of EVs. A government introduces a policy that provides significant, long-term funding for battery research, successfully lowering the production cost of all EVs. How would this policy's impact be represented on the graph?
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