Which of the following is true of technological innovations?
A) Technological innovations help increase a country's gross domestic product.
B) Technological innovations decrease the amount of output achievable from a given quantity of labor and capital.
C) Technological innovations slow down the product development cycles and product obsolescence.
D) Technological innovations increase production costs and reduce product differentiation.
Correct Answer:
Verified
Q5: Externalities are costs that are borne by
Q7: As a result of the rapid pace
Q7: Technological innovation results in complete eradication of
Q11: Firms that charge headlong into new product
Q11: Most innovative ideas do not become successful
Q13: According to the concept of innovation funnel,the
Q13: The _ of an economy is its
Q14: Technological innovation decreases the amount of output
Q17: The innovation process is often conceived of
Q19: Globalization of markets has reduced the importance
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