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प्रश्न
How will cost-saving technical progress affect the supply curve?
लघु उत्तरीय
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उत्तर
Techniques of production also exert a significant influence on the supply of a commodity. An improvement in the technique of production and the invention of new machines and advanced techniques reduce the cost of production and increase the profit margin thereby. Increased profitability induces the producers to produce more and increase supply thereby.
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