Technological Advance Improves Productivity in a Purely Competitive Industry

question 316

Multiple Choice

Technological advance improves productivity in a purely competitive industry. This change will result in a shift

• A)down of the individual firm's MC curve, causing the market supply curve to shift to the left.
• B)down of the individual firm's MC curve, causing the market supply curve to shift to the right.
• C)up of the individual firm's MC curve, causing the market supply curve to shift to the left.
• D)up of the individual firm's MC curve, causing the market supply curve to shift to the right.

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Definitions:

Cytoplasmic Granules

Specialized structures within cells that store and secrete various substances such as enzymes or pigments.

Eosinophils

A type of white blood cell, part of the immune response especially involved in fighting parasites and allergic reactions.

Neutrophils

A type of white blood cell important in the body's defense against infection by engulfing and destroying pathogens.

Hematocrit

The ratio of the volume of red blood cells to the total volume of blood, expressed as a percentage.