Technological advance improves productive efficiency by
A)lowering average total cost.
B)increasing marginal utility.
C)enhancing monopoly power.
D)giving society a more-preferred mix of goods and services.

Question

Quizplus · Accepted Answer

Technological advances improve productive efficiency primarily by lowering average total cost, allowing firms to produce more output at a lower cost per unit. This does not directly relate to increasing marginal utility, enhancing monopoly power, or changing the mix of goods and services preferred by society.

Technological Advance Improves Productive Efficiency by