Technological Change Is Most Likely to Affect

question 63

Multiple Choice

Technological change is most likely to affect:

• A)structural unemployment.
• B)frictional unemployment.
• C)cyclical unemployment.
• D)seasonal unemployment.

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Definitions:

Variable Costs

refer to expenses that change in proportion to the activity of a business, such as costs for raw materials or production volume.

Fixed Costs

Costs that do not change with the level of output produced, such as rent or salaries.

AVC Curve

The Average Variable Cost (AVC) Curve is a graphical representation showing the relationship between a firm's output level and its average variable cost.

Break-Even

The point at which total costs equal total revenue, resulting in no net loss or gain for a business.