If a technological advancement increases the efficiency of production for a good, resulting in a rightward shift of the supply curve, how does this affect producer surplus?

When a technological advancement makes it easier or cheaper to produce a good, the supply curve shifts to the right. This means that producers can supply more of the good at every price level. As a result, the market price of the good may decrease because there is more of it available. Producer surplus, which is the difference between what producers are willing to accept and what they actually receive, increases because producers can sell more goods at a price that is still higher than their production costs. For example, if a factory can now produce more toys at a lower cost, the increased supply may lower the price of toys, but the factory still benefits from selling a larger quantity, increasing its overall profit.