A Technological Change That Lowers the Cost of Producing Pencils

question 146

Multiple Choice

A technological change that lowers the cost of producing pencils

• A) increases the quantity supplied of pencils.
• B) increases the supply of pencils.
• C) decreases the supply of pencils.
• D) decreases the quantity supplied of pencils.
• E) increases the demand for pencils.

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Definitions:

Ranking Scales

A method of data collection that involves ordering items or entities according to certain criteria, such as preference or importance.

Likert Scales

A psychometric scale commonly used in questionnaires to measure respondents' attitudes, opinions, or perceptions by offering a range of fixed responses.

Numbered Continuum

A sequential arrangement of items or values where each entry is numbered, indicating its position within a linear progression or scale.

Problem Statement

A concise description of an issue to be addressed or solved, typically outlining the context and significance.