When a Firm Uses Technological Improvements to Increase Output from the Same

question 24

Multiple Choice

When a firm uses technological improvements to increase output from the same amount of inputs, the result is

• A) a new production function.
• B) losses.
• C) guaranteed profits.
• D) diseconomies of scale.

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Definitions:

Rope

A length of strong cord made by twisting or braiding together strands of natural fibers, synthetic fibers, or wire.

Kanban Signals

Visual or electronic cues used in lean manufacturing and just-in-time (JIT) production environments to trigger the movement, production, or supply of parts in a manufacturing process.

Throughput

The rate at which a system generates its products or services over a given period of time.