When a firm adopts new technology,generally its
A) cost curves shift upward.
B) cost curves shift downward.
C) cost curves are unaffected.
D) supply curve shifts leftward.
E) production permanently decreases.

Question

Quizplus · Accepted Answer

Adopting new technology generally leads to cost savings and increased efficiency, resulting in lower cost curves for the firm. Thus, option B is the correct answer.

When a Firm Adopts New Technology,generally Its