A Technological Advance Would Best Be Represented by

question 78

Multiple Choice

A technological advance would best be represented by

• A)A shift outward of the production possibilities curve.
• B)A shift inward of the production possibilities curve.
• C)A movement from inside the production possibilities curve to a point on the production possibilities curve.
• D)A movement from the production possibilities curve to a point inside the production possibilities curve.

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Definitions:

Drop Product

A strategy or decision by a company to discontinue the production, sale, or support of a product line or item.

Special Order

A one-time order that is not considered part of the company’s normal ongoing business.

Variable Cost

A cost that varies, in total, in direct proportion to changes in the level of activity. A variable cost is constant per unit.

Discount

A reduction from the usual cost of something, often applied to encourage sales or provided for early payment.