A firm has successfully adopted a positive technological change when: a. it can produce more...
Question:
A firm has successfully adopted a positive technological change when:
a. it can produce more output with the same inputs
b. can pay its workers less yet increase its output
c. it sees an increase in worker productivity
d. it produces less pollution in its production process
Production:
Production is the total output produced by the producer with the given inputs and the production function shows the relationship between input and output. The more the input will be used the more the output is produced depending upon the production function.
Answer and Explanation: 1
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View this answerA firm has successfully adopted a positive technological change when:
a. it can produce more output with the same inputs
When a firm successfully...
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Economies of Scale: Definition, Benefits & Examples
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Chapter 3 / Lesson 41
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Explore the principle of economies of scale and delve into several real-world examples. Learn the formula for determining economies of scale as well as their types, benefits, inputs and the factors that influence them. Discern the limits of economies of scale and find out the difference between economies of scale and diseconomies of scale.
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