Quote from: Nelsonmedias11 on October 02, 2018, 09:43:23 AM

As technology improves, we can save a great deal of time and money, in addition to human labor. Improving the technology helps us to be more creative and speed up our work.

Well a typical production function is written as Y is a function of A(K,L) which means that technology plays a big role in the production of the country. This shows the more the technology improves, the more the capital is efficient and the marginal productivity of an additional or extra unit employed increases.

Moreover, a labor having more innovative tools can perform good than before and this way, the production time and the cost declines which is a convenience in life due to technology.