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Author Question: In economics, the term technology refers to different ways of combining resources to produce output. ... (Read 23 times)

misspop

  • Hero Member
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  • Posts: 540
on: Jun 30, 2018
In economics, the term technology refers to different ways of combining resources to produce output. In this sense, technological advances make possible the production of more output from a given amount of resources.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Consumer surplus increases whenever the price of a good decreases.
 a. True
  b. False
  Indicate whether the statement is true or false


janeli

  • Sr. Member
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  • Posts: 346
Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

True


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