And example of determinant of supply
Mathematics
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An example of a determinant of supply is technology.
- Technology: Improvements in technology can lower production costs and increase efficiency. For instance, if a car manufacturer invests in new robotic assembly lines, they can produce more cars at a lower cost per unit, leading to an increase in the supply of cars. Conversely, outdated technology or a lack of technological advancement can hinder production and decrease supply.
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