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it usually lowers production cost

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13y ago

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How do technology change supply?

It changes supply by how much is bought. The more technology that is bought, the less supply there is. The less that is bought, the more supply there is.


Does a change in producers' technology lead to a movement along the supply curve or a shift in the supply curve?

Changes in a producer's technology can lead to a SHIFT in the supply curve.


What is the factor that supply curve to shift right?

A increase in supply will be because of an: Increase in technology, change in production climates (positive change), cost of production decrease or increase in number of producers,changes in the prices of other goods and services, subsides.


What factors influence changes in aggregate supply?

Changes in aggregate supply are influenced by factors such as technology advancements, input prices, government regulations, and productivity levels. These factors can impact the overall level of goods and services that an economy can produce.


What are the influences of supply?

Things that cause changes in supply are also called influences of supply. Some of these influences on supply are: cost of inputs, productivity, technology, taxes, subsidises, government regulation, numbers of sellers, war, and other political conflict.


Name and explain two reasons why changes in supply occur?

There are several ways in which changes in supply occur. They include Technology, Cost of in-puts, productivity, number of sellers in the market, expectations of sellers government taxes or subsidies, government regulation, and production possibilities.


How did Mesopotamians use technology tocontrol their water supply?

How did ancient Mesopotamian farmers use technology to control their water supply?”


What are the causes of shifts in the supply curve?

Shifts WITHIN the supply curve are caused by changes in price. However, shifts of the supply curve are determined by the determinants of Supply. 1) Change in resource prices 2) Change in technology 3) Changes in taxes and subsidies 4) Change in prices of other goods 5) Change in expectations 6) Change in number of suppliers.


What factors influence the equilibrium of supply and demand in the market?

The equilibrium of supply and demand in the market is influenced by factors such as consumer preferences, production costs, government regulations, and external events like natural disasters or changes in technology. These factors can shift the supply and demand curves, leading to changes in prices and quantities exchanged in the market.


Why does an advance in technology increase supply?

because labor's or capital's productivity increases and costs of production fall


Why does the supply curve shift to the left?

The supply curve shifts to the left when there is a decrease in the quantity of goods or services that producers are willing and able to supply at a given price. This can happen due to factors such as increased production costs, decreased availability of resources, or changes in technology.


Why changes in the prices of joint products affect changes in supply?

Yes, of course changes in prices affect changes in supply because fluctuation in prices is very dangerous for every one. If your stock is older and prices can reduce you are bound to sell where as when price can raises they can earn more profite