If there is an advancement in the technology used to produce a product, what is the likely effect it may have on the supply?
A) The company would not change its manufacturing.
B) It would increase the supply.
C) It would decrease the supply.
D) More people would be needed to produce the product.
B
Economics
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Cost-benefit analysis is just a guide to making a normative decision
a. True b. False
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The analytical framework in which two or more firms compete for certain payoffs that depend on the strategy that the others employ is
A) game theory. B) the concentration ratio. C) a horizontal merger. D) network effect.
Economics