If there is a change in the ability of a firm to produce a given level of output with a given level of inputs, we say there is
A)human capital investment.
B)technological change.
C)an increase in labour productivity.
D)a movement along a given per-worker production function.
E)the accumulation of physical capital.

Question

Quizplus · Accepted Answer

Technological change refers to a change in the ability of a firm to produce a given level of output with a given level of inputs. It is often driven by improvements in technology or changes in production methods.

If There Is a Change in the Ability of a Firm