Suppose firm X implements a new method for extracting copper from copper-bearing ore. This is an example of
A)product innovation.
B)process innovation.
C)economics of scale.
D)the inverted-U theory.

Question

Quizplus · Accepted Answer

This is an example of process innovation because it involves a new method or technology in the production process, improving efficiency or productivity in extracting copper from ore.

Suppose Firm X Implements a New Method for Extracting Copper