How does technology affect the productivity

Reference no: EM13762240

1. What is marginal productivity? Compare it with average productivity. In a particular industry you are familiar with, compare its marginal productivity from average productivity. What would happen if a technological innovation is introduced in that industry's production process? Please explain your answers.

2. How do you differentiate economics from accounting. Illustrate your differentiation.

3. How does technology affect the productivity and cost of the industry you currently work for or you are familiar with? How do the technical and economically efficient concepts shape the long-run average total-cost curve of this industry?

Assume that you have the qualities of an entrepreneur and given a chance to create your own firm, what will it be and how would you characterize your role in the production process?

Reference no: EM13762240

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