If a More Efficient Technology Was Discovered by a Firm

question 250

Multiple Choice

If a more efficient technology was discovered by a firm, there would be

• A)an upward shift in the AVC curve.
• B)an upward shift in the AFC curve.
• C)a downward shift in the AFC curve.
• D)a downward shift in the MC curve.

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Definitions:

Delegation

The process of assigning responsibility and authority from one person or group to another person or group.

Personal

Relating to or affecting a particular person rather than anyone else; of or concerned with one's private life, relationships, and emotions rather than matters connected with one's public or professional career.

Qualified

Refers to meeting the necessary standards or requirements for a particular position, status, or activity.

Statue Of Frauds

A legal doctrine requiring certain agreements to be in writing and signed to be legally binding, aiming to prevent fraud.