A change in technology that increases the marginal physical product of an input will:
a. shift the input demand curve to the left
b. shift the input demand curve to the right.
c. result in a movement down along the input demand curve.
d. result in a movement up along the input demand curve.
b
You might also like to view...
If a firm hires its fourth worker for $5 and its fifth worker for $8, then
a. the firm is a monopolist. b. the firm must be substituting capital for labor. c. the fifth worker must have been less productive than the fourth. d. the firm is not maximizing its profit. e. the labor market is not perfectly competitive.
Kevin Freeman is the head of a team developing plastic knee replacements. Each member of the team brings specialized knowledge to the innovation process. Without both engineers and materials specialists, the project could not be successful. This is an example of the
A. costs of employee buy-in. B. benefits of the use of dispersed specific knowledge. C. free-rider problem. D. costs of collective-action problems.
Currency rates of exchange are determined by
A) agreements among governments. B) the nations with the strongest armies. C) the demand and supply of the currency. D) multilateral business agreements.
Does a subsidy to sellers affect the supply curve?
A. Yes, it shifts supply to the right by the amount of the subsidy. B. No, the quantity supplied will decrease, but the supply curve does not move. C. Yes, it shifts supply vertically downward by the amount of the subsidy. D. No, the quantity supplied will increase, but the supply curve does not move.