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:

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The study of genes, genetic variation, and heredity in living organisms, influencing traits and characteristics.

Closure

The psychological term for the process of seeking a sense of resolution or conclusion to a complex issue or an emotional matter.

Autokinetics

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Precognition

The claimed ability or phenomenon of knowing or perceiving future events before they happen.