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There Is a Technological Improvement in the Production of Good

question 49

Multiple Choice

There is a technological improvement in the production of good X.As a result,the _____________ curve for good X will shift ____________ resulting in a(n) _____________ in the equilibrium price of X and a(n) ____________ in the equilibrium quantity of X.


Definitions:

Economic Resources

Assets or inputs utilized in the production of goods and services, such as labor, land, and capital.

Shareholders' Equity

Shareholders' equity is the residual interest in the assets of a corporation that remains after deducting its liabilities, often referred to as stockholders' equity.

Private Company

A business entity owned by private individuals or entities and not publicly traded on a stock exchange.

Public Company

A company whose shares are traded freely on a stock exchange, making its financial records and activity reports publicly available.

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