A Firm Used to Produce a Product Using Three Units

question 137

Multiple Choice

A firm used to produce a product using three units of labor and one unit of capital. The firm discovers that it can produce more output at a lower cost if it combines two units of labor with two units of capital. This is an example of

• A) an innovation.
• B) an invention.
• C) increasing returns.
• D) economic growth.

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Definitions:

Self-Harm

The act of deliberately hurting oneself, often as a way of coping with distressing thoughts or feelings.

Dissociative Identity Disorder

A severe form of dissociation, a mental process that produces a lack of connection in a person's thoughts, memory, and sense of identity, formerly known as multiple personality disorder.

Flashbacks

Sudden and intense memories of past experiences, often traumatic, that involuntarily come to mind, causing distress or impairing daily life.

Interstate Highway

A network of controlled-access highways designed for high-speed vehicular traffic, facilitating long-distance travel across states in the U.S.