tag:blogger.com,1999:blog-35777384.post2227353196360487045..comments2024-03-26T13:58:01.822-07:00Comments on The Dangerous Economist: Our Standard of Living Continues to GrowCyril Moronghttp://www.blogger.com/profile/07148864847009186694noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-35777384.post-49044715491938300932007-04-23T13:09:00.000-07:002007-04-23T13:09:00.000-07:00Thanks for stopping by.Why would technology cause ...Thanks for stopping by.<BR/><BR/>Why would technology cause demand for air conditioners to shift to the left? In economics, technology is a shift variable for the supply line, not demand. When technology improves, supply shifts to the right.Cyril Moronghttps://www.blogger.com/profile/07148864847009186694noreply@blogger.comtag:blogger.com,1999:blog-35777384.post-76899505909169752652007-04-23T11:51:00.000-07:002007-04-23T11:51:00.000-07:00Well this is true to a certain extent. VCRs and M...Well this is true to a certain extent. VCRs and Microwaves a like have dropped in price tremendously. I understand that those items were costly during the height of the technology. Air Conditioners follow suit as well. <BR/><BR/>I can relate this to Demand,in the non price determinant category. The entire demand curve has shifted to the left on items such as VCRs and Airconditioners, due to modern technology. With microwaves we are dealing with a change in quantity demanded, so there will be a movement down and to the right on the existing demand curve. <BR/><BR/>Therefore, as things get cheaper over the years, more consumers are able to purchase. <BR/>This is not a lesson for you of course, because you're a doctor. Just a mere observation by me.Anonymousnoreply@blogger.com