An Increase in the Level of Technology Shifts

question 56

Multiple Choice

An increase in the level of technology shifts

• A) both the SAS and LAS curves rightward.
• B) both the SAS and LAS curves leftward.
• C) the LAS curve rightward but leaves the SAS curve unchanged.
• D) the SAS curve rightward but leaves the LAS unchanged.

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Definitions:

Mean

The average of a set of numbers, calculated by adding them together and then dividing by the number of values.

Frequency Distribution

A summary of how often each different value occurs in a dataset, often represented in a table or graph.

Balancing Point

A point at which a system, object, or decision is in a state of equilibrium or balance, often used metaphorically to refer to fair or stable situations.

Deviations

Differences between observed values and the average or expected values in a data set.