This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Technological advancement implies: a. the increase in the quantity of inputs needed to produce a ... (Read 68 times)

gonzo233

  • Hero Member
  • *****
  • Posts: 557
on: Jun 30, 2018
Technological advancement implies:
 a. the increase in the quantity of inputs needed to produce a given quantity of output.
  b. the reduction in the quantity of inputs needed to produce a given quantity of output.
  c. the reduction in the productivity of a sector of the economy that has become obsolete.
  d. an increase in the labor to capital ratio in any production process.
  e. the growth in the natural resource endowment.

Question 2

Assume an industry initially in equilibrium has a price floor imposed at a price above the equilibrium price. Total revenue received by the producers from sales will:
 a. rise as a result.
 b. rise as a result only if supply is elastic.
 c. rise as a result only if demand is elastic.
  d. rise as a result only if demand is inelastic.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

upturnedfurball

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

d


gonzo233

  • Member
  • Posts: 557
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

AngeliqueG

  • Member
  • Posts: 343
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

Asthma cases in Americans are about 75% higher today than they were in 1980.

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

The Head Start program was designed to increase the school readiness of low-income children. The Head Start program was designed to increase the school readiness of low-income children.
How Much Food Does the World Produce Per Person? How Much Food Does the World Produce Per Person?
Many electronic components are used to construct a typical vehicle computer. Notice the quantity of ... Many electronic components are used to construct a typical vehicle computer. Notice the quantity of ...
DOT placarding requirements: Table 1 materials must be placarded in any quantity, and Table 2 ... DOT placarding requirements: Table 1 materials must be placarded in any quantity, and Table 2 ...
Find the factor demand for labour and the amount of output it will produce. Show all ... Find the factor demand for labour and the amount of output it will produce. Show all ...
Identify the variable representing each described quantity in the equation Identify the variable representing each described quantity in the equation
Video: Mechanisms of capillary exchange

For a complete list of videos, visit our video library