If a Competitive Firm Successfully Adopts a Better Production Technology

question 157

Multiple Choice

If a competitive firm successfully adopts a better production technology ahead of the others, then

• A) its product price will become lower than the others'.
• B) its average cost will become higher than the others'.
• C) its profits will become higher than the others'.
• D) its marginal revenue will become higher than the others'.

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Definitions:

Unmyelinated Axons

Refer to nerve fibers that lack a myelin sheath, resulting in slower transmission of nerve impulses compared to myelinated axons.

Gray Matter

The regions of the brain and spinal cord that consist primarily of neuronal cell bodies and are involved in muscle control and sensory perception.

Interneurons

Neurons that are neither afferent nor efferent, but instead carry information from one neuron to another.

Myelin Layers

Myelin layers are protective coverings made of fatty substances that surround the axons of some neurons, facilitating the rapid transmission of electrical impulses along nerve cells.