Question

Explain the effect of technical progress on the supply of a good

Answer 1

Explanation:

Supply refers to the quantity of a commodity that a producer is willing is able to produce in a given period of time. Effect of technological progress:- Due to upgradation of technology the supply curve will shift rightward as the cost of production will decrease and the profit will increase....

Answer 2

Answer-

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• Supply refers to the quantity of a commodity that a producer is willing is able to produce in a given period of time. Effect of technological progress:- Due to upgradation of technology the supply curve will shift rightward as the cost of production will decrease and the profit will increase.

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