Investment-specific technological progress: Difference between revisions

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An example of investment-specific technological progress is the [[microwave oven]]. The first microwave oven cost between $2000 and $3000 US and was housed in refrigerator-sized cabinets. Through regular technological investment the microwave industry has developed into a competitive market, with small compact units in many households.<ref> {{Citation
| last=Gallawa | first=J. Carlton | title=Who Invented Microwaves | url= http://www.gallawa.com/microtech/history.html| year=2005}}</ref> Many industries have adopted the microwave through capital or research investment, applications outside the food industry include the [[iron]] and [[steel]] industry as a heating tool<ref>{{Cite journal|last1=Yoshikawa|first1=Noboru|last2=Ishizuka|first2=Etsuko|last3=Mashiko|first3=Kenichi|last4=Chen|first4=Yan|last5=Taniguchi|first5=Shoji|date=2007|title=Brief Review on Microwave (MW) Heating, Its Application to Iron & Steel Industry and to the Relevant Environmental Techniques|url=http://joi.jlc.jst.go.jp/JST.JSTAGE/isijinternational/47.523?from=CrossRef|journal=ISIJ International|language=en|volume=47|issue=4|pages=523–527|doi=10.2355/isijinternational.47.523|issn=0915-1559|doi-access=free}}</ref> and the [[chemical industry]] as a tool for [[organic synthesis]].<ref>{{Cite book|url=https://www.worldcat.org/oclc/945552571|title=Milestones in microwave chemistry|others=Keglevich, György|date=22 March 2016|isbn=978-3-319-30632-2|___location=Switzerland|oclc=945552571}}</ref>
 
==Measurement==