A Technological Advance Shifts the

question 6

Multiple Choice

A technological advance shifts the

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

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Definitions:

Direct Labor Wage Rate

Direct labor wage rate is the amount paid to workers directly involved in the production of goods or services, typically measured on an hourly basis.

Direct Labor-Hours

A measure of the amount of time workers spend on a specific task or production, used in calculating labor costs.

Finished Goods

Units of product that have been completed but not yet sold to customers.

Raw Material

Basic materials used in the manufacturing process to produce finished goods, including items like metals, plastics, and textiles.