An advance in technology will
A) not shift the production function but will lead to a movement down along the production function.
B) shift the production function downward.
C) not shift the production function but will lead to a movement up along the production function.
D) shift the production function upward.
D
You might also like to view...
The marginal cost of a good is
a. lower for competitive firms than for monopolists. b. the cost of an additional unit. c. equal to fixed cost at high output levels. d. equal to variable cost when the firm is maximizing profit.
To help with motivation, long-term productivity, and retention, firms with internal labor markets tend to offer all of the following except
A. benchmark competitive wages. B. efficiency wages. C. pay based on job seniority. D. internally based promotion systems.
Anheuser-Busch purchased the Labatt brewery in Canada and has expanded its market and product offerings. This is an example of:
A. foreign direct investment. B. foreign portfolio investment. C. exporting. D. importing.
The federal funds rate is a
A. 1-day rate. B. 30-day rate. C. 3-month rate. D. 2-year rate.