Author Question: In economics, the term technology refers to different ways of combining resources to produce output. ... (Read 88 times)

misspop

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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

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Answer to Question 1

True

Answer to Question 2

True



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