Technological change A) almost always increases the costs of production. B) usually requires an investment in...
Technological change
A) almost always increases the costs of production.
B) usually requires an investment in a new plant.
C) cannot help a firm to earn an economic profit in either the
short run or the long run. D) is implemented in the short
run.
E) almost always increases the variable costs of production.
Homework Answers
Answer
Option B
B) usually requires an investment in a new plant.
technological change requires investment in new plant
It reduces the cost of production, it can help in short as well as long run.
It is implemented in the long run as it requires new plant
it decreases variable costs
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