Corrine Has All the Technological Tools-A Laptop, a Tablet, and a Smartphone

question 2

True/False

Corrine has all the technological tools-a laptop, a tablet, and a smartphone that never leaves her side. The computer in home office has a broadband connection to her company's intranet. If Corrine is like most Americans who have access to all of this modern technology, she will enjoy a much shorter workweek than workers in less technologically advanced nations.

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Definitions:

Diminishing Marginal Returns

Refers to a point in production where adding an additional factor of production results in a smaller increase in output.

Average Variable Costs

The total variable costs divided by the quantity of output produced, reflecting the average cost of producing each unit.

Average Fixed Costs

Costs in production that are stable and do not vary with the amount of output, divided by the quantity of goods produced.

Output

The total amount of goods or services produced by a person, machine, factory, country, etc., within a certain period.