Refer to Figure 13.1 for the following questions.
Figure 13.1
-The movement from A to D in Figure 13.1 illustrates

Question

Refer to Figure 13.1 for the following questions.
Figure 13.1 
-The movement from A to D in Figure 13.1 illustrates

Quizplus · Accepted Answer

An improvement in technology is represented by a shift of the production function to the right, which allows more output to be produced with the same inputs. In Figure 13.1, the movement from A to D represents an improvement in technology because the production function has shifted to the right, allowing more output to be produced with the same inputs.

Refer to Figure 13.1 for the Following Questions