impact of Technology on Elasticity of Demand and S

[Nauman]

Depends on what type of technological improvement there is, as far as I remember the effect on elasticity of demand in negligent because technology has got little to do with the end customer though if technology means that there will be more alternatives ie. substitutes produced then in that case elasticity will increase. Elasticity of Supply will be effected as technology means that time lag in production and supply will reduce and hence the easticity will increase. You can find this information in any good Economic book, try Modern Economic Theory by K.K. Dewett.

Regards