The question is Discuss how changes in technology impact price output and economic profit? The answer in question is : At a lower cost firms are willing to supply agiven quantity at a reduced price or provide more of a product at a higher price. How does technology make a firm provide more of a product at a higher price?
Increased technology makes it cheaper to produce at any price. Therefore the cost of production falls, shifting the supply curve South-East. Supply curve is upward sloping so, ceteris paribus, the firm should always supply more of a product at a higher price.