What will be the result if the nation experiences a technological breakthrough in the production process?
A)Business costs will rise, profits will fall, and production will decrease.
B)Business costs will fall, but profits also will fall and production will remain at the pre-breakthrough level.
C)Business costs will decline, improving profitability, and production will increase.
D)Firms will make higher profits but will not increase production.

Question

Quizplus · Accepted Answer

A technological breakthrough in the production process typically results in decreased business costs and improved efficiency. This increased efficiency leads to increased profitability and allows firms to increase production without increasing costs. Therefore, choice C is the best answer.

What Will Be the Result If the Nation Experiences a Technological