Ask Question
19 January, 10:02

An improvement in production technology will:

a. Increase a firm's costs and increase its supply

b. increase a firm's costs and decrease its supply

c. decrease a firm's costs and increase its supply

d. decrease a firm's costs and decrease its supply

+1
Answers (1)
  1. 19 January, 10:22
    0
    C - decrease a firm's costs and increase its supply

    Explanation:

    The improvement in production technology will increase the production while average cost of production decreases. When average cost of production decreases, it is profitable for firms to sell more output, therefore, firms increase the production.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “An improvement in production technology will: a. Increase a firm's costs and increase its supply b. increase a firm's costs and decrease ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers