Economics Study Set 4
Quiz 11: Technology,production,and Costs
If a Firm Experiences Positive Technological Change,it Is Able to Produce
If a firm experiences positive technological change,it is able to produce more output using the same inputs.
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Is it possible for technological change to be negative? If so,give an example.
Describe how Wal-Mart has used positive technological change to manage its inventory.
A characteristic of the long run is A) there are fixed inputs. B) all inputs can be varied. C) plant capacity cannot be increased or decreased. D) there are both fixed and variable inputs
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