If a more efficient technology was discovered by a firm, there would be:

Related MCQs

• When a firm doubles its inputs and finds that its output has more than doubled, this is known as:
• …………a statement in the form of a table that shows the different quantities of a commodity that a firm or a producer offers for sale in the market at different prices.
• ……….. a schedule that depicts the supply by an individual firm or producer of a commodity in relation to its price
• In a perfectly competitive market, individual firm
• The reason the marginal cost curve eventually increases as output increases for the typical firm is because:
• If the short-run average variable costs of production for a firm are rising, then this indicates that:
• The firm's short-run marginal-cost curve is increasing when:
• A firm encountering economies of scale over some range of output will have a:
• The firm charges price in tune with the industry’s price is called
• The condition for the long run equilibrium of a perfectly competitive firm