Which of the following are examples of a firm experiencing a positive technological change?
a. A firm is able to reduce its inputs by 15 percent and still produce the same level of output.
b. A seminar attended by the firm's workers makes them more productive.
c. A firm adds 5 percent to its workforce and is able to maintain its initial level of output.
d. A firm restructures its distribution system and is able to save on its shipping times.
e. A firm rearranges its warehouse and finds that it can use fewer workers to maintain its productivity level.
Question 2
A major difference between monopolistic competition and perfect competition is
A) that products are not standardized in monopolistic competition unlike in perfect competition.
B) the barriers to entry in the two markets.
C) the degree by which the market demand curves slope downwards.
D) the number of sellers in the markets.
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