Describe the Difference Between Technology and Positive Technological Change

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The Answer is A firm's technology refers to the processes it uses to turn its land, labor, capital and entrepreneurial inputs into outputs of goods and services.When a firm experiences positive technological change it is able to produce more output using the same inputs or the same output using fewer inputs.Technological change can result from rearranging the layout of a store or manufacturing plant, the installation of faster or more durable equipment or other factors.

Describe the Difference Between Technology and Positive Technological Change

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