Which of the following is an example of Cost-Reduction Technology in a business?

Option 1 -> Increased advertising cost raises expenses rather than reducing them.

Option 2 -> Implementation of a new machine that speeds up production reduces per-unit costs through improved efficiency and automation.

Option 3 -> Raising prices is a revenue strategy, not a cost-reduction measure.

Option 4 -> Hiring more employees increases operational costs (wages, benefits) rather than reducing them.

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Hence, Option 2: Implementation of a new machine that speeds up production -> Cost-reduction technology refers to tools, equipment, or systems that help businesses lower their production or operational costs. A new machine that speeds up production is a prime example because it increases efficiency, reduces labor costs per unit, minimizes production time, and often improves quality consistency. This results in lower overall costs per product while maintaining or increasing output. -> correct