Technology is Part 3 A. the additional output a firm produces as a result of hiring one more input. B. a change in the ability of the firm to produce a given level of output with a given quantity of inputs. C. the rate of economic depreciation. D. the processes a firm uses to turn inputs into outputs of goods and services. E. the highest-valued alternative that must be given up to engage in an activity.
Technology is Part 3 A. the additional output a firm produces as a result of hiring one more input. B. a change in the ability of the firm to produce a given level of output with a given quantity of inputs. C. the rate of economic depreciation. D. the processes a firm uses to turn inputs into outputs of goods and services. E. the highest-valued alternative that must be given up to engage in an activity.
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter18: The Markets For The Factor Of Production
Section: Chapter Questions
Problem 2CQQ
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Question
What is technology?
Part 2
Technology is
Part 3
the additional output a firm produces as a result of hiring one more input.
a change in the ability of the firm to produce a given level of output with a given quantity of inputs.
the rate of economic depreciation.
the processes a firm uses to turn inputs into outputs of goods and services.
the highest-valued alternative that must be given up to engage in an activity.
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