--%>
Assignment Help - homework help

Technological advancement influencing supply

Describe how technological advancement influence the supply of specific product.

E

Expert

Verified

Technological advancement brings a positive impact in the supply of a specific product. It reduces or decreases per unit cost and raise the productivity of given factors of production. Due to such reasons production of given product becomes more gainful.

   Related Questions in Microeconomics

  • Q : Define Indirect taxes Indirect taxes :

    Indirect taxes: Whenever the liability to pay tax is on one person and the burden of that tax falls on another person, it is termed as indirect tax. Illustrations are: sales tax, excise duty, VAT, tax on services and so on.

    		•
  • Q : Opponents of Contribution Standard

    Opponents of contribution standard for income distribution, the: (w) prefer a more efficient mechanism to distribute income. (x) accept marginal productivity theory. (y) question how well the market system measures productivity. (z) generally favor de

    		•
  • Q : Monopsony Power- Labors demand When

    When wage discrimination is not probable for the first 40 workers this profit-maximizing organization hires, however it can wage discriminate perfectly whenever hiring all the subsequent workers, it hires a net of: (p) Forty workers at an average salary of $700 per we

    		•
  • Q : A purely competitive industry long-run

    The long-run dynamics of purely competitive industry make sure that:( w) surviving firms make positive economic profits. (x) accounting profits will equal economic profits. (y) accounting profits will be zero. (z) economic profits will be zero. <

    		•
  • Q : For luxury items absolute value of

    The absolute value of price elasticity of demand tends to be lower when: (w) the greater the number of substitutes available. (x) the more important the product is in classical budgets. (y) for necessities than for luxury items. (z) when more time is

    		•
  • Q : Labor Unions-jurisdictional strikes

    Preceding to the merger of the American Federation of Labor and Congress of Industrial Organizations to the AFL CIO merger in year 1955: (1) The AFL was an alliance of the industrial unions. (2) The CIO was an alliance of the craft unions. (3) Jurisdictional strikes o

    		•
  • Q : Present value of bond paying on

    At an interest rate of 5 percent per year the present value of a bond paying $100 yearly forever is: (a) infinite. (b) $500. (c) $909.10. (d) $2000. I need a good answer on the topic of Economics problems. Please give me your sugge

    		•
  • Q : Define production possibility curve or

    Production possibility curve or PPC: PPC exhibits different combination of a pair of goods, that can be produced with the given resources and method of production, that are fully and proficiently utilized.

    		•
  • Q : Rate of Return on Investment When the

    When the rate of return on investment equals the interest rate, in that case the optimal level of investment will: (w) rise. (x) fall. (y) not change. (z) Any of the above is possible.

    Q : Form of Discrimination The form of

    The form of discrimination which probably causes the smallest problems for income distribution is: (1) occupational discrimination. (2) human capital discrimination. (3) price discrimination. (4) personal discrimination. (5) employment discrimination.

    		•