hat is the difference between technology and technological change? A. Technology is the development of new products, while technological change is when a firm is able to produce more output with the same inputs. B. Technology is the process of using inputs to make output, while technological change is when a firm is able to produce the sameoutput using fewer inputs. C. Technology is the development of new products, while technological change is when a firm is able to produce the same output with fewer inputs. D. Technology is when a firm is able to produce moreoutput using the same inputs, while technological change is the process of using inputs to make output. E. Technology is the process of using inputs to make output, while technological change is when a firm is able to produce more output using more inputs.
hat is the difference between technology and technological change? A. Technology is the development of new products, while technological change is when a firm is able to produce more output with the same inputs. B. Technology is the process of using inputs to make output, while technological change is when a firm is able to produce the sameoutput using fewer inputs. C. Technology is the development of new products, while technological change is when a firm is able to produce the same output with fewer inputs. D. Technology is when a firm is able to produce moreoutput using the same inputs, while technological change is the process of using inputs to make output. E. Technology is the process of using inputs to make output, while technological change is when a firm is able to produce more output using more inputs.
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter13: The Cost Of Production
Section: Chapter Questions
Problem 1PA
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What is the difference between technology and technological change?
Technology is the development of new products, while technological change is when a firm is able to produce more output with the same inputs.
Technology is the process of using inputs to make output, while technological change is when a firm is able to produce the sameoutput using fewer inputs.
Technology is the development of new products, while technological change is when a firm is able to produce the same output with fewer inputs.
Technology is when a firm is able to produce moreoutput using the same
inputs, while technological change is the process of using inputs to make output.
inputs, while technological change is the process of using inputs to make output.
Technology is the process of using inputs to make output, while technological change is when a firm is able to produce more output using more inputs.
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