Technological improvement allows more output to be obtained from a given level of inputs, thereby shifting the production possibilities curve to the right.

Name: Technological improvement allows more output to be obtained from a given level of inputs, thereby shifting the production possibilities curve to the right.
Brand: Quizplus
Rating: 4.9 (47 reviews)

Question

Quizplus · Accepted Answer

Technological improvement leads to more efficient use of inputs, therefore increasing productivity and shifting the production possibilities curve to the right.

Technological Improvement Allows More Output to Be Obtained from a Given