Q. 145.0( 2 Votes )
How does technolo
Technological progress results in cost saving and increases supply so it is a positive function.
If the technology available to the firm will appreciate, the firm will be able to produce more units of output with the given level of input which will reduce the cost and the marginal cost curve will shift downward to the right which will also shift the supply curve towards right.
Thus with technological advancement the firm will supply more output at the given market price.
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