Question

In: Economics

How do you think this has affected the market for computers? For computer software? For typewriters?

Over the past 30 years, technological advances have reduced the cost of computer chips. How do you think this has affected the market for computers? For computer software? For typewriters?

Solutions

Expert Solution

technological advances in the market will reduce the cost of production and make the firms in the market more efficient, this will shift the supply curve to the right and the new equilibrium will be at a lower price and higher level of quantity.

Here, the older equilibrium was at A and after the curve shift to the right, the new equilibrium will be at point B.

Rahul Sunny answered 2 years ago
Next > < Previous

Related Solutions

How do you think the market for auditing and legal advising would be affected if the...
How do you think the market for auditing and legal advising would be affected if the Big Four were to have an oligopoly in those markets?
“How do you think the stock market would be affected if the laws were changed so...
“How do you think the stock market would be affected if the laws were changed so that trading on insider information was no longer illegal? What would be the impact on the goal of the financial manager if such a change were to occur?”
How do you think the global pandemic has affected the systematic risk of different stocks/sectors in...
How do you think the global pandemic has affected the systematic risk of different stocks/sectors in the market and what are the implications for portfolio diversification? ( please write at least 150 words)
How has social media affected your perceptions of activism? Do you think a voice amplified by...
How has social media affected your perceptions of activism? Do you think a voice amplified by social media is more or less powerful? Why?
How has learning Financial Accounting affected your life? How do you think ethics plays a role...
How has learning Financial Accounting affected your life? How do you think ethics plays a role in Accounting?
How do you think small businesses will be affected in America & Worldwide once the tragic...
How do you think small businesses will be affected in America & Worldwide once the tragic pandemic of CV-19 is over? Provide examples, and justify why both small and big businesses alike received a $2 trillion dollar bailout from the government this week. Was it fair? Is the travel industry dead?
     how do you think marble architecture and statues would be affected by acid rain? Support...
     how do you think marble architecture and statues would be affected by acid rain? Support your answer with your observations and consider the states in the chemical equation.
How do you think the safety of patients, other than COVID-19 patients, is affected by the...
How do you think the safety of patients, other than COVID-19 patients, is affected by the current pandemic? Support your answer with examples and methods to provide better patient care.
How do computers assist in the budget planning process? Search the internet for software companies that...
How do computers assist in the budget planning process? Search the internet for software companies that offer budgeting programs, and briefly describe how these programs can help in budgeting.
How has softbank affected the financial market or environment
How has softbank affected the financial market or environment
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT