Multiple Choice
Which of the following is an example of positive technological change?
A) A firm offers workers a higher wage to work on weekends and at night. As a result, the firm is able to increase its weekly production of surf boards.
B) A firm buys an additional machine that it uses to make surf boards. As a result, the firm is able to increase its weekly production of surf boards.
C) A firm conducts a new advertising campaign. As a result, the demand for the firm's surf boards increases.
D) A firm's workers participate in a training program designed to increase the number of surf boards they can produce per day.
Correct Answer:

Verified
Correct Answer:
Verified
Q21: The explicit cost of production is also
Q22: Stan owns a software design business.He does
Q23: Which of the following are implicit costs
Q24: Two stores-Lazy Guys and Ralph's Recliners-are located
Q25: The short run is the time period
Q27: Figure 11-13<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4193/.jpg" alt="Figure 11-13
Q28: Table 11-3<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4193/.jpg" alt="Table 11-3
Q29: The total output produced by a firm
Q30: The slope of an isocost line _
Q31: The marginal rate of technical substitution is