If a Competitive Firm Successfully Adopts a Better Production Technology

question 184

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:

Unsolicited Application Message

A resume or application sent by a job seeker to an employer who has not advertised an open position.

Attention-Getters

Techniques or strategies used to capture the audience's interest or focus at the beginning of a speech, presentation, or article.

Subjunctive Words

Words used to express wishes, necessity, uncertainty, or conditionality, often seen in languages with a subjunctive mood.

Lack of Confidence

The feeling or state of uncertainty about oneself, reflecting doubts about one's abilities, decisions, or worthiness.