Technological Advance Improves Productive Efficiency by

question 225

Multiple Choice

Technological advance improves productive efficiency by

• A) lowering average total cost.
• B) increasing marginal utility.
• C) enhancing monopoly power.
• D) giving society a more-preferred mix of goods and services.

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Definitions:

Bond Payable

A long-term debt instrument issued by a company, promising to pay the holder a specified amount of interest over a set period and to repay the principal on the bond's maturity date.

Long-Term

Referring to assets, liabilities, or investments that are expected to be held or mature in more than one year.

Interest-Bearing Note

A promissory note that comes with the agreement to pay the holder a fixed amount of interest over a specified period until the principal amount is repaid.