Technology used in the production of a good improves

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Reference no: EM131240572

If the level of technology used in the production of a good improves, and assuming the quality of the good does not change, then: i. more output may be obtained with a given amount of inputs compared to before the technological improvement

ii. a given amount of output may be obtained with fewer inputs compared to before the technological improvement

iii. the firm will increase its use of other inputs, such as the number of workers it employs iv. market demand for the good will increase

A) i

B) ii

C) iii

D) iv

E) i and ii

F) i, ii, and iii

G) i, ii, and iv

H) i, ii, iii, and iv

Reference no: EM131240572

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