What Is the Graphical Effect of Technological Change

question 120

Multiple Choice

What is the graphical effect of technological change?

• A)The SRAC curves would shift down and the LRAC curve would shift up.
• B)The SRAC curves would shift up and the LRAC curve would shift down.
• C)The SRAC curves and the LRAC curve would shift up.
• D)The SRAC curves and the LRAC curve would shift down.

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Definitions:

Temporal Precedence

A principle in causal inference, suggesting that a cause must precede its effect in time for a causal relationship to be considered.

Basic Research

A form of scientific investigation that aims to increase the understanding of fundamental principles, without immediate application to practical problems.

Self-Awareness

The conscious knowledge of one’s own character, feelings, motives, and desires.

Temporal Precedence

A condition in causal research where the cause must occur before the effect can be observed.