Technological advance improves productive efficiency by:

A) lowering average total cost.
B) increasing marginal utility.
C) enhancing monopoly power.
D) giving society a more-preferred mix of goods and services.

Productive Efficiency

Achieved when goods or services are produced at the lowest possible cost and utilizing resources in the best way possible.

Average Total Cost

The total cost of production divided by the quantity of output produced, showing the average cost per unit.

Technological Advance

Progress in technology that often leads to improvements in efficiency, productivity, and the development of new products.