If a Technological Breakthrough Reduces Input Quantities Needed to Produce

question 237

Multiple Choice

If a technological breakthrough reduces input quantities needed to produce some item,

• A)cost of production will be increased.
• B)the price of the product will rise.
• C)the price of the product will fall.
• D)quantity demanded of the product will fall.

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Definitions:

Traits

Characteristics or qualities that define an individual's personality or biological attributes.

Generation

The act of producing or creating something, or a group of individuals born and living at about the same time.

Original Organism

The first or earliest form of an organism from which others have evolved or derived.

Evolution

The process whereby multiple forms of life are thought to have arisen and diversified from ancient ancestors throughout the geological history of the planet.