Technological Improvements Cause

question 130

Multiple Choice

Technological improvements cause

• A)ATC to shift down.
• B)The supply curve to shift to the left.
• C)MC to shift up.
• D)P to increase.

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Definitions:

Fine

A monetary penalty imposed by a court on an individual or entity as punishment for a violation or crime.

Fixed Costs

Expenses that do not change in the short term regardless of the level of production or output.

Capital Expenditure

Capital expenditure involves funds spent by a company to acquire or upgrade physical assets such as equipment, property, or industrial buildings.

Wages

Payments made to employees based on the amount of time worked or the level of output produced.