Question

what does new technology generally do to production

Answer 1

New technology increases productivity. That means that you can produce more output with less inputs.

Answer 2

Technology is the implementation of new skills in the production process, which lessens the gap between capital and labor. This means more goods and services can be produces quickly, easily and efficiently!

Answer 3

New technology means it would be effecient and would produce more output with lower input hence productivity would rise...cost incurred would be less..economies of scale as cost would spread over the producitivity lower average cost lower fixed cost...and so on..