Cost curves shift if i. technology changes.
Ii. the prices of factors of production change.
Iii. productivity changes.

Name: Cost curves shift if i. technology changes. Ii. the prices of factors of production change. Iii. productivity changes.
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Question

Quizplus · Accepted Answer

All three factors—technology changes, changes in the prices of factors of production, and changes in productivity—can cause cost curves to shift.

Cost Curves Shift If I. Technology Changes