Use the following graph to answer the following questions.

-An ________ in ________ would cause an upward shift of the production function.
A) increase; capital
B) increase; investment
C) increase; output
D) increase; depreciation
E) advance; technology

Question

Use the following graph to answer the following questions.
 
-An ________ in ________ would cause an upward shift of the production function.
A) increase; capital 
B) increase; investment 
C) increase; output 
D) increase; depreciation 
E) advance; technology

Quizplus · Accepted Answer

An advance in technology improves the efficiency of production, leading to an upward shift in the production function.

Use the Following Graph to Answer the Following Questions