A technological advance that increases labor productivity will
a. lower wages.
b. decrease the demand for labor as fewer workers are needed.
c. decrease the supply of labor as fewer workers are needed.
d. increase the demand for labor as MP rises.
e. decrease the demand for labor as MP falls.
D
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A. contracts B. insurance C. patents D. accounting rules
Social costs are
A) costs that are borne by the government. B) the full cost borne by society whenever a resource use occurs. C) borne by individuals who incur them. D) borne by no one in society.
Why would a company continue to operate for many years while never once turning a profit rather than shut down immediately? Using revenue and cost analysis, explain when the company would shut down
What will be an ideal response?
How can bonuses to exceptional employees be considered economic rents?