Explain How New Technologies, Which Increase Productivity, Affect the Average

question 444

Essay

Explain how new technologies, which increase productivity, affect the average variable cost, average total cost, and marginal cost curves.

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Definitions:

Business Representative

An individual who acts on behalf of a business entity in dealings with others, such as negotiations or partnerships.

Secretary-Treasurer

A combined executive role in organizations, responsible for both the secretarial duties and the financial management of the entity.

Negotiate Contracts

The process of discussing the terms of a contract between two or more parties to reach a mutual agreement.

Union Instrumentality

The perceived effectiveness of a labor union in achieving desired outcomes or goals for its members.