Technological Changes That Increase Productivity Shift the

question 92

Multiple Choice

Technological changes that increase productivity shift the

• A)Production function downward.
• B)Average total cost curve downward.
• C)Marginal cost curve upward.
• D)Marginal physical product curve downward.

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Definitions:

Asset Turnover Ratio

A financial metric that measures the efficiency of a company in using its assets to generate sales or revenue, calculated by dividing sales or revenue by the average assets.

Net Sales

The amount of revenue from sales transactions minus returns, allowances for damaged or missing goods, and discounts.

Total Assets

The sum of all assets owned by a company, including both current and non-current assets, representing the resources owned by a company to produce value.

Inventory Turnover

A measure of how many times a company's inventory is sold and replaced over a period.