If there is an advancement in the technology used to produce a product, what is the likely effect it may have on the supply?

Name: If there is an advancement in the technology used to produce a product, what is the likely effect it may have on the supply?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

An advancement in technology usually leads to increased efficiency and lower production costs, allowing companies to produce more at a lower cost. Therefore, it is likely to increase the supply of the product.

If There Is an Advancement in the Technology Used to Produce