How does technological advancement generally impact supply?

Technological advancement typically leads to a rightward shift in the supply curve because it enhances the efficiency of production processes. When technology improves, firms can produce more output at the same cost, or the same output at a reduced cost. This increase in productivity effectively means that at any given price, producers are willing to supply more goods and services, thus shifting the supply curve to the right.

For example, if a manufacturer invests in new machinery that allows for faster production, it can produce more units of a product without a proportionate increase in costs. This technological improvement leads to an increase in supply, enabling the market to meet consumer demand more effectively.

Other options suggest that technological advancements might decrease supply or shift the curve leftward, which contradicts the fundamental premise that improved technology increases efficiency and productivity. Additionally, stating that technology has no effect disregards the significant role that advancements in technology play in shaping supply dynamics in the market.