Question

if a more efficient technology was discovered by a firm there would be:​

Answer 1

If a more efficient technology was discovered by a firm there would be a downward shift in the MC curve.

Why would there be a downward curve?

• MC curve means "Marginal Cost" curve.
  
• New technology will reduce the cost of labor per additional unit of output.
  
• It will be due to an increase in efficiency, resulting in a downward shift of the MC curve.

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