An Improvement in a Firm's Technology That Improves Productivity Results

question 110

Multiple Choice

An improvement in a firm's technology that improves productivity results in a(n) :

• A) leftward shift of the supply curve.
• B) upward movement along the supply curve.
• C) willingness to supply a larger quantity than before at any given price.
• D) downward movement along the supply curve.

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Definitions:

Brand Name

The name given to a product or service by its manufacturer or provider to distinguish it from others in the market.

Model Number

A specific designation given by manufacturers to identify a particular product or version within a line of items.

Equipment Replacing

The process of substituting old or malfunctioning equipment with newer, functional units to ensure efficiency and safety.

Vital Supplies

Essential items or materials necessary for health, survival, or the operation of a system or organization.