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blakenordgaard blakenordgaard
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A year ago
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.
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
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apinaapina
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A year ago
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blakenordgaard Author
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A year ago
Smart ... Thanks!
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This calls for a celebration Person Raising Both Hands in Celebration
kater28
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Thank you, thank you, thank you!
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