Question

What sort of effect does new technology generally have on production
A. Increases the work load
B. Decreases competition
C. Makes it more efficient
D. It has no effect

Answer 1

Answer:

C

Explanation:

Technological advances that improve production efficiency will shift a supply curve to the right. The cost of production goes down, and consumers will demand more of the product at lower prices. Computers, televisions and photographic equipment are good examples of the effects of technology on a supply curve.