When the technological progress occurs, it (A) shifts the production curve upward, which implies that with the same level of inputs, one can produce more output (B) shifts the production curve downward, which implies that with the same level of inputs, one can produce more output (C) shifts the isoquant upward, which implies that a produce a given level of output, we need less inputs (D) shifts the isoquant downward, which implies that a produce a given level of output, we need more inputs

UoH 2018 Question 40: Production and returns to scale

When the technological progress occurs, it

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Production and returns to scale has come up 92 times in 6 exams since 2007.

This question is on Production possibilities and opportunity cost, part of Production and returns to scale in Microeconomics.

The frontier of feasible outputs, opportunity cost, and what shifts the frontier, including technological change.

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