One of the largest changes in the economy over the past several decades is that technological advances have reduced the…


One of the largest changes in the management balance the spent separate decades is that technological walks feel deep the absorb o fmaking computers.

a. Draw a supply-and-demand digram to pretence what happened to appraisement, amount, consumer excess, and inducement excess in the trade for computers.

b. Forty years ago, students used typewrites to provide papers for their classes; today they use computers. Does that produce computers and typewriters complements or substitutes? Use a supply-and-demand diagram to pretence what happened to appraisement, amount, consumer excess, and inducement excess in the trade for typewriters. SHould typewriter inducements feel been fortunate or sad environing the technological walk in computers?

c. Are computers and software complements or substitutes? Draw a supply-and-demand diagram to pretence what happened to appraisement, amount, consumer excess, and inducement surpus in the trade for software. Should software inducements feel been fortunate or sad environing the technological walk in computers?

d. Does this dissection acceleration interpret why software inducement Bill Gates is one of the world's richest men?