If Technology Advances

question 206

Multiple Choice

If technology advances,:

• A) more output can be obtained from the same inputs.
• B) more inputs are needed to produce the same output.
• C) less output can be obtained from the same inputs.
• D) less output can be produced even with more inputs.

---

Definitions:

Cable Subscriptions

A service model where consumers pay a regular fee to access a bundled set of television channels and programs.

Profit-Maximizing Output

The level of production at which a company can achieve the highest level of profit based on its costs and the market price.

Profit-Maximizing Price

The price at which a company can sell its product or service to maximize its profit, considering demand and cost.

Demand Curve

A graph that shows the relationship between the price of a good and the quantity of that good consumers are willing to purchase at various prices.