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.

Recognize the links between diet, exercise, and health.

Learn about the genetic and environmental influences on weight and obesity.

Understand the effects of quitting smoking on health.

Be aware of the signs and consequences of alcohol abuse.

---

Definitions:

Finished Product

The final output of a manufacturing process, ready for sale or distribution to the end-user.

Gross Margin

A company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage, indicating the financial health and profitability of a product or service.

Marketing Plan

A comprehensive strategy outlining an organization's advertising and marketing efforts, including target markets, marketing objectives, and initiatives to achieve them.

Ability To Make A Profit

The ability to make a profit reflects a business's capacity to generate more revenue than its expenses through its operations and strategies.