ECON 101 Lecture Notes - Lecture 1: Linear Technology, Jerky, Marginal Cost

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brenda98434

4 Dec 2022

School

Duke University

Department

Economics

Course

ECON 101

Professor

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H change in technology looks similar to differences in preferences. Linear technology can he have the ppf part of yes but keep in mind that marginal cost a a linear ppf for all or linear ppf has constant is that really true in this situation. Sometimes policymakers will on society that we can represent in the ppf ex suppose policymakers put limit amount of smokes that can be produced call. The cap on smokes production truncates the ppf. Suppose the 2 items in the production of the other product one product in the future. Ppf have that today affects the ability to produce relationship so a one type of such relationship is good the product made by the ex. Caving barns capgood between a capital capital good curingborns. The more borns we build today the more smokes me can produce in the future.

Related Questions

The difference between technology and technological change is that:

(i) technology is carried out by firms producing physical goods but technological change is an intellectual exercise in seeking ways to improve production.

(ii) technology is product-centered, that is, developing new products with our limited resources while technological change is process-centered in that it focuses on developing new production techniques.

(iii) technology involves the use of capital equipment while technological change requires the use of brainpower.

(iv) technology refers to the processes used by a firm to transform inputs into output while technological change is a change in a firm's ability to produce a given level of output with a given quantity of inputs.

plumelk226

The difference between technology and technological change is that:

1. technology refers to the processes used by a firm to transform inputs into output while technological change is a change in a firm's ability to produce a given level of output with a given quantity of inputs.

2. technology is carried out by firms producing physical goods but technological change is an intellectual exercise into seeking ways to improve production.

3. technology is product-centered, that is, developing new products with our limited resources while technological change is process-centered in that it focuses on developing new production techniques.

4. technology involves the use of capital equipment while technological change requires the use of brain power.

orangewhale173

The difference between technology and technological change is that:

a. technology refers to the processes used by a firm to transform inputs into output while technological change is a change in a firm's ability to produce a given level of output with a given quantity of inputs.

b. technology is carried out by firms producing physical goods but technological change is an intellectual exercise in seeking ways to improve production.

c. technology is product-centered, that is, developing new products with our limited resources while technological change is process-centered in that it focuses on developing new production techniques.

d. technology involves the use of capital equipment while technological change requires the use of brainpower.

coralbeetle694

ECON 101 Lecture Notes - Lecture 1: Linear Technology, Jerky, Marginal Cost

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