The introduction of a new technology that increases the productivity of labor will increase the demand for labor.
- Technological development widens an economy's production potential frontier by raising the productivity of factors of production, such that the same amount of output may be generated with fewer resources, or more output can be produced with the same number of resources.
- Increased availability of some technology may raise labor demand. Technology that functions as a supplement to labor will raise demand for specific forms of labor, causing the demand curve to move to the right.
- Technology has a huge impact on businesses, both in terms of upgrading existing commodities and inventing new manufacturing methods. Businesses profit from technology because it enables them to create in greater quantities, produce more consistently, and be more cost-effective.
Thus the correct option is C.
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