Process innovation can be depicted as
A)an upward shift in a firm's total product curve.
B)an upward shift in a firm's marginal cost curve.
C)a downward shift in a firm's marginal revenue curve.
D)an increase in product demand.

Question

Quizplus · Accepted Answer

Process innovation typically leads to more efficient production methods, which can be represented by an upward shift in a firm's total product curve, indicating an increase in output for any given level of input.

Process Innovation Can Be Depicted as