Save nse ponse Question 20 (1 point) 20) Consider the short-run and long-run cos

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Save nse ponse Question 20 (1 point) 20) Consider the short-run and long-run cost curves for a firm. If there is an improvement in the firm's technology O A) the firm will move to a lower point on its long-run average cost curve only O B) the firm will move to a lower point on both its long-run and short-run average cost curves o c) there will be a downward shit in the long-un average cost curve but not in the short-run average cost O D) there will be no change in the cost curves in the long run E) both the long-run and short-run average cost curves will shift downward Save iz Status 9 Saved Go to Submit Quiz Save All Quiz #2-ECON 11.

Explanation / Answer

Q20) E) both the short run and long run average cost curves will shift downwards.

This is because the firm can produce with lower cost at each level of output than before when there is an improvement in the technology of the firm.

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