A new technological breakthrough increases production for an industry and shifts the supply curve to the right. If the firm , then the firm will likely be happy about this new technology.

Produces products that are considered elastic

Explanation:

Technological changes is one of the key determinant of the supply and we know that technological advancement in the production of a particular commodity will lead to increase the production level of the firm. This will lead to shift the supply curve rightwards, which increases the equilibrium quantity and decreases the equilibrium prices.

Hence, if the demand for the products is elastic then the total revenue of the firm increases because this firm has the more quantity effect than the price effect, so this will increase the firm's profit.

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