An Improvement in Technology in the Production of Computers Would

question 73

Multiple Choice

An improvement in technology in the production of computers would

• A) increase the demand for computers.
• B) increase the supply of computers.
• C) decrease the demand for computers.
• D) decrease the supply of computers.

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Definitions:

Manufacturing

The process of producing goods through the combination of labor, machinery, tools, and chemical or biological processing or formulation.

Raw Materials Inventory

The total cost of all components and materials that are held by a company and intended for use in the production of goods.

Conversion Costs

Costs associated with converting raw materials into finished goods, typically including labor and overhead expenses.

Finished Goods

Goods that have finished the production process and are prepared for purchase by customers.