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Over the past 30 years, technological advances have reduced the cost of computer chips

Chapter 4, Problem Problems and Applications 4.5

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QUESTION:

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?

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QUESTION:

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?

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Technology is one of the ways that can affect the supply of a good or service. The developed countries are more technologically advanced. It is the reason for higher standards of living across countries.

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