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ch4aika [34]
4 years ago
10

Why does the adoption of new technology tend to increase supply?

Business
1 answer:
Butoxors [25]4 years ago
7 0

Answer:

New technology allows firms to produce at a lower cost. As a result, as firms adopt a new technology, their cost curves shift downward. Market supply increases, and the market supply curve shifts rightward. With a given demand, the quantity produced increases and the price falls.

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