19) Technological progress is defined as
A)
an improvement of the economic growth that leads to a change in the
standard of living
B)
the increase in output that the economy produces that is equivalent to
economic growth
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a total improvement in the efficiency of all factory machines and
equipment within the economy
an improvement in the efficiency with which an economy uses its resources
and factors of production to produce increased output.
D)

Dan mcclure is trying to decide on how many copies of a book to purchase at the start of the upcoming selling season for his bookstore. the book retails at $28.00. the publisher sells the book to dan for $20.00. dan will dispose of all the unsold copies of the book at 75 percent off the retail price, at the end of the season. dan estimates that demand for this book during the season is normal with a mean of 100 and a standard deviation of 42. a. how many books should dan order to maximize his expected profit? b. given the order quantity in part a, what is dan's expected profit? c. the publisher's variable cost per book is $7.50. given the order quantity in part a, what is the publisher's expected profit?