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प्रश्न
Mention the impact of advanced technology on the supply of a commodity.
Explain the effect of improved (or advanced) technology on the supply curve of a commodity.
उत्तर
Improvement in technique of production reduces the cost of production. Consequently profits tend to increase, inducing an increase in supply and the supply curve shifts to the right.
Technological advancement → Cost ↓ → Profit ↑ → Supply ↑ → Rightward shift
संबंधित प्रश्न
Due to installation of a machine with latest technology, the cost of production has decreased. It will lead to ______.
The following supply curve shifts from SS to S1S1. It may be due to ______.
Which of the following factor may cause decrease in supply.
Increase or decrease in supply means ______.
What will be the effect of raising production subsidies on the supply of a commodity?
What do you understand by shifts of the supply curve?
Point out important factors that lead to increase in supply.
Discuss four factors which determine decrease in supply phenomenon.
If a farmer grows rice and wheat, how will a decrease in the price of wheat affect the supply curve of rice?
Explain any two causes of decrease in supply of a commodity.
