What will typically happen to supply when advancements in technology have occurred?

Advancements in technology generally lead to improvements in the efficiency of production processes, which often results in an increase in supply capacity. When new technologies are introduced, they can allow firms to produce more goods at the same or lower costs, thereby increasing the overall available supply of those goods in the market. Enhanced production methods can also lead to improvements in product quality and reductions in wastage, further contributing to an increase in supply.

When supply capacity increases, it means that producers can generate more output without significantly increasing their costs per unit. This shift in supply dynamics is essential in responding to changes in consumer demand and can help stabilize prices by making more products available. Thus, advancements in technology typically have a positive influence on supply, leading to greater efficiency and potentially lower prices for consumers.