A improvement in production technology will shift the supply curve to the right.
When a new technique of production reduces the cost of production, the supply curve shifts to the right. Improvement in technology reduces the cost of production per unit and increases the profit margin of producers. However the supply increases and shifts the curve to the right.
A positive change in supply when demand is constant shifts the supply curve to the right. Thus, this results in an intersection that yields lower prices and higher quantity.
Hence, a cost saving technological progress will reduce the marginal cost of production. This will shift the supply curve to the right.
To learn more about supply curve here:
https://brainly.com/question/9228571
#SPJ1
