What Happens When a Firm Adopts a New Technology

question 10

Multiple Choice

What happens when a firm adopts a new technology?

• A) The firm must increase its losses.
• B) The firm must increase its profit.
• C) The firm will have a new production function.
• D) The firm must have higher costs.
• E) The firm must have higher revenue.

---

Definitions:

Justice Theorist

A scholar or philosopher who studies the principles of justice, exploring concepts such as fairness, equality, and moral rightness in society.

Human Right

Fundamental rights and freedoms to which all individuals are entitled, irrespective of nationality, sex, ethnic origin, religion, or any other status.

Net Welfare

The overall well-being or prosperity of a society, considering all economic, social, and environmental factors, minus any costs or negative impacts.

Rights Affected

The legal entitlements or interests that are influenced or altered by legal decisions, actions, or agreements.