Does the impact of technology increase or decrease the cost of production?

Decrease: Say you have 5 people working on assembling a wheel part for a car. Each person gets 30k a year, so that is already 150k. But if you bought a very updated piece of machinery that would do the same job of those 5 people, you would only have to buy it once. Therefore, technology is said to decrease the cost of production.

;D