Title: The following figure shows wage versus labor demand.Refer to the figure above. If a new technology ...
Post by: blakenordgaard on Dec 27, 2022
The following figure shows wage versus labor demand.
Refer to the figure above. If a new technology is developed that increases the marginal productivity of all workers, what will happen to the wage rate and quantity of labor?
▸ The wage rate will increase, and the quantity of labor will decrease.
▸ The wage rate will decrease, and the quantity of labor will increase.
▸ Both the wage rate and quantity of labor will increase.
▸ Both the wage rate and quantity of labor will decrease.
Refer to the figure above. If a new technology is developed that increases the marginal productivity of all workers, what will happen to the wage rate and quantity of labor?
▸ The wage rate will increase, and the quantity of labor will decrease.
▸ The wage rate will decrease, and the quantity of labor will increase.
▸ Both the wage rate and quantity of labor will increase.
▸ Both the wage rate and quantity of labor will decrease.
Title: The following figure shows wage versus labor demand.Refer to the figure above. If a new technology ...
Post by: apina on Dec 27, 2022
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