For a given short-run production, function
A. technology is assumed to change as capital stock changes.
B. Technology is assumed to change as the labor input changes.
C. Technology is considered to be constant for a given production function relationship
D. Technology is assumed to change positively until diminishing return set in and then it changes in the other direction.
Answer:C
For a given short-run production, function
A. technology is assumed to change as capital stock changes. B. Technology is assumed to change as the labor input changes. C. Technology is considered to be constant for a given production function relationship D. Technology is assumed to change positively until diminishing return set in and then it changes in the other direction.