CBSE Class 12-commerce Answered
Explain the effect of technological advancement on the
supply of a good with diagram.
Asked by Topperlearning User | 25 Apr, 2016, 02:40: PM
Expert Answer
When there is advancement in technology, the cost of production falls and increase in profit. It leads to an increase in the supply of good which shift the supply cure towards right.
The above figure shows that the advancement in technology shifts the supply curve S towards rightward from S to S1 and the increase in the supply of good from OQ to OQ1. But the price of the good OP remains constant.
Answered by | 25 Apr, 2016, 04:40: PM
CBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 02:40: PM
ANSWERED BY EXPERTCBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 02:40: PM
ANSWERED BY EXPERTCBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 02:40: PM
ANSWERED BY EXPERTCBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 02:40: PM
ANSWERED BY EXPERTCBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 02:40: PM
ANSWERED BY EXPERTCBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 02:40: PM
ANSWERED BY EXPERTCBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 02:40: PM
ANSWERED BY EXPERTCBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 02:40: PM
ANSWERED BY EXPERTCBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 02:40: PM
ANSWERED BY EXPERTCBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 02:40: PM
ANSWERED BY EXPERT
