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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What impact does technological progress have on marginal cost?
💡 Hint: Think about how efficiency might affect production.
Question 2
Easy
Define supply curve.
💡 Hint: It shows how much a firm is willing to produce at various prices.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What happens to the supply curve when technological progress decreases marginal cost?
- Shifts left
- Shifts right
- No change
💡 Hint: Consider how efficiency changes production capabilities.
Question 2
Is a decrease in marginal cost always beneficial for firms?
- True
- False
💡 Hint: Think about the implications for cost structures.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Analyze how the rise of e-commerce technology affects traditional retail supply chains.
💡 Hint: Think about how having a website and online sales changes a physical store's needs.
Question 2
Discuss the potential negative effects of technology on employment in the manufacturing sector.
💡 Hint: Consider factors like efficiency vs. labor needs.
Challenge and get performance evaluation