Cost Curves Shift If

question 85

Multiple Choice

Cost curves shift if
i.technology changes.
ii.the prices of factors of production change.
iii.productivity changes.

• A) only i
• B) i and iii
• C) only ii
• D) i and ii
• E) i, ii, and iii

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Definitions:

TV Commercials

Short visual advertisements broadcast on television to promote products, services, or ideas to a wide audience.

Opportunity Cost

The price paid for not selecting the next most favorable choice during decision-making.

TV Commercials

Short advertisements broadcast on television, typically showcasing products, services, or brands to a wide audience.

Specialize

To concentrate on a specific area of expertise, activity, or field of study to gain a higher efficiency or proficiency.