Suppose That an Economy Produces 2400 Units of Output, Employing

question 7

Multiple Choice

Suppose that an economy produces 2400 units of output, employing the 60 units of input, and the price of the input is $30 per unit. Refer to the information above. If productivity increased such that 3000 units are now produced with the quantity of inputs still equal to 60, then per-unit production costs would:

• A) Decrease and aggregate supply would decrease
• B) Decrease and aggregate supply would increase
• C) Increase and aggregate supply would decrease
• D) Remain unchanged and aggregate supply would remain unchanged

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Definitions:

Oral Communication

The process of expressing information or ideas through spoken words in various contexts, including conversations, presentations, and speeches.

Spoken Words

Verbal communication or language expressed orally, in contrast to written or non-verbal forms of communication.

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A concept that suggests individuals have multiple layers or aspects to their personality, encompassing physical, emotional, and psychological dimensions.

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A system designed for the collection, storage, and dissemination of information, typically involving computers and telecommunication technology.