If a Firm Develops Better Methods of Producing a Product

question 37

Multiple Choice

If a firm develops better methods of producing a product, then this process innovation can be expected to result in a(n)

• A)upward shift in both the total product and average cost curves.
• B)downward shift in both the total product and average cost curves.
• C)downward shift in the total product curve and an upward shift in the average cost curve.
• D)upward shift in the total product curve and a downward shift in the average cost curve.

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Definitions:

Prevalence

The proportion of a population found to have a particular condition or attribute at a specific time or over a specific period.

Women

Adult human females.

Personality Disorders

A category of mental health disorders characterized by enduring patterns of thinking, feeling, and behaving that significantly deviate from cultural expectations and cause distress or impaired functioning.

Genetic Predispositions

The genetic makeup that makes an individual more likely to develop certain traits or diseases.