If a Technological Advance Increases a Firm's Labor Productivity, We

question 176

Multiple Choice

If a technological advance increases a firm's labor productivity, we would expect its

• A)average total cost curve to rise.
• B)average total cost curve to fall.
• C)total cost curve to rise.
• D)average total cost curve to be unaffected.

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Definitions:

Organizational Culture

The shared beliefs, values, norms, and practices that shape the behavior and interaction of members within an organization.

New Organization

Refers to a freshly established entity or the process of restructuring an existing one to operate in a novel manner.

Typically Emerges

Refers to how something commonly or usually comes into being or becomes apparent over time.

Cultural Change

The transformation of the collective behaviors, values, practices, and norms of an organization or society over time.