Consider the short- run and long- run cost curves for a firm.If there is an improvement in the firm's technology,
A) there will be a downward shift in the long- run average cost curve but not in the short- run average cost curve.
B) the firm will move to a lower point on both its long- run and short- run average cost curves.
C) the firm will move to a lower point on its long- run average cost curve only.
D) there will be no change in the cost curves in the long run.
E) both the long- run and short- run average cost curves will shift downward.
Correct Answer:
Verified
Q27: Suppose that capital costs $6 per unit
Q60: Consider the short- run and long- run
Q61: Which of the following cost curves demonstrate
Q62: FIGURE 8- 4 Q63: Canada has a much lower population density
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents