Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / When the technology in production becomes more advanced what will happen to supply? a

When the technology in production becomes more advanced what will happen to supply? a

Economics

When the technology in production becomes more advanced what will happen to supply?

a.

Is unaffected

b.

Don't know

c.

Increase

d.

Decrease

pur-new-sol

Purchase A New Answer

Custom new solution created by our subject matter experts

GET A QUOTE

Answer Preview

When the technology in production becomes more advanced the supply will decrease

Producers having low costs can always supply a greater extent of product at a given price more than the product with high costs. So,when a decrease in producers cost happens the supply will increase. Similarly, when the production cost increases, the supply will decrease.