If There Is an Improvement in the Firm's Technology

Multiple Choice

If there is an improvement in the firm's technology,

A) there will be no change in the cost curves in the long run.
B) the firm will move to a lower point on both its long- run and short- run average cost curves.
C) the firm will move to a lower point on its long- run average cost curve only.
D) there will be a downward shift in the long- run average cost curve but not in the short- run average cost curve.
E) both the long- run and short- run average cost curves will shift downward.