Question

How does technological progress affect the supply curve of a firm?

Answer 1

Explanation:

When a firm discovers a new technology that allows the firm to produce at a lower cost, the supply curve will shift to the right, as well. ... A technological improvement that reduces costs of production will shift supply to the right, so that a greater quantity will be produced at any given price.

Answer 2

Technological progress and supply curve of a firm.

Explanation:

Supply curve Shifts Rightward when there is technological progress. Change is supply curve can be in the form of movement in supply curve and shift in supply curve.

• Movement in supply curve is caused by change in price of the commodity. increases in price leads to upward movement while decrease in price leads to downward movement.
• Shifts in supply curve is caused by all other factors affecting supply like technology, change in production cost, availability of raw material etc. so when new advanced technology of production comes into the market the firm can offer more goods at the same price leading to rightward shift in the supply curve.

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Technology and supply curve

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