If There Is an Improvement in the Firm's Technology

question 25

Multiple Choice

If there is an improvement in the firm's technology,

• A) there will be no change in the cost curves in the long run.
• B) the firm will move to a lower point on both its long- run and short- run average cost curves.
• C) the firm will move to a lower point on its long- run average cost curve only.
• D) there will be a downward shift in the long- run average cost curve but not in the short- run average cost curve.
• E) both the long- run and short- run average cost curves will shift downward.

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Definitions:

Conflict Theorists

Scholars who view social life as a competition, and focus on the distribution of resources, power, and inequality within a society.

Dominant Classes

Social groups that hold primary power and influence within a society, often determined by wealth, occupation, and social status.

Mass Media

Various forms of communication channels, such as television, radio, newspapers, and the internet, that reach a large audience simultaneously to distribute information or entertainment.

Violence

The intentional use of physical force or power, threatened or actual, against oneself, another person, or against a group or community, which either results in or has a high likelihood of resulting in injury, death, psychological harm, maldevelopment, or deprivation.