WinSun, a Chinese firm, began producing 3-D printed houses in late 2013. These houses were produced in a fraction of the time it would take to produce a house in the regular way and at a much lower cost. This is an example of:
A) an advance in technology leading to a rise in productivity.
B) a rise in productivity causing an advance in technology.
C) a movement to the left along the same production function.
D) a movement to the right along the same production function.
Correct Answer:
Verified
Q16: Which of the following would lead to
Q17: If the standard of living rises in
Q18: A rise in population in a country:
A)boosts
Q19: Which of the following would lead to
Q20: A firm that prepares and mails customer
Q22: A government can promote the development of
Q23: Which of the following explains the shape
Q24: The figure shows three different production functions.
Q25: The law of diminishing returns states that:
A)when
Q26: Technological advancement can be shown by which
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