Technological Change

question 264

Multiple Choice

Technological change

• A) usually requires an investment in a new plant.
• B) is implemented in the short run.
• C) almost always increases the costs of production.
• D) almost always increases the variable costs of production.
• E) cannot help a firm to earn an economic profit in either the short run or the long run.

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Definitions:

Popularity

The state of being widely admired, accepted, or sought after by a large number of people.

Employed Fathers

Fathers who have jobs outside the home, balancing work commitments with parenting responsibilities.

Under Age 13

refers to individuals who are 12 years old or younger, often considered a vulnerable population in discussions of legal protection, education, and health.

Workdays

Days designated for work, typically excluding weekends and public holidays, when employees are expected to perform their job duties.