If there is an improvement in the technology, ___________:a)The supply curve shifts to the leftb)The supply curve shifts to the rightc)Quantity supplied increased)Both (b) and (c)Correct answer is option 'B'. Can you explain this answer?

Question

Answer

Impact of Technology Improvement on Supply Curve

Introduction:
Technology plays a crucial role in the production process of goods and services. Technological advancements can lead to a change in the supply of goods and services in the market.

Supply Curve:
The supply curve is a graphical representation of the relationship between the price of a product and the quantity of the product that suppliers are willing to sell. A change in any factor other than the price of the product can shift the supply curve.

Impact on Technology Improvement on Supply Curve:
When there is an improvement in technology, the supply curve shifts to the right. The following points explain the impact of technology improvement on the supply curve:

Increased Productivity: Technological advancements can lead to an increase in productivity, which means that the same amount of resources can produce more output. This increase in productivity leads to an increase in the quantity of the product that suppliers are willing to sell.

Lower Production Costs: Technology can also lead to lower production costs, which means that suppliers can produce the same amount of output at a lower cost. This decrease in production costs leads to an increase in the quantity of the product that suppliers are willing to sell.

New Products: Technological advancements can also lead to the development of new products, which can increase the supply of goods and services in the market.

Increased Efficiency: Technology can lead to increased efficiency in the production process, which can lead to an increase in the quantity of the product that suppliers are willing to sell.

Conclusion:
In conclusion, when there is an improvement in technology, the supply curve shifts to the right. This shift in the supply curve leads to an increase in the quantity of the product that suppliers are willing to sell.

Answer

D hona chahiye
other than price change karne se supply increase or decrease hota hain
curve shift hota hai
yahan pr improvement technology ke karan quantity supply increase hoga tb jaa ke curve right shift karega
to the right

Answer

B is the correct ans yadi price change hota tho extension or contraction hota but yaha factors other than price hua hai i.e technology tho price vhi hai ussi price pe supply badh gi

Answer

C

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