Suppose a change in technology increases the marginal product of labor. The result is a(n):
a. downward movement along the demand for labor curve.
b. rightward shift in the demand for labor curve.
c. leftward shift in the demand for labor curve.
d. upward movement along the demand for labor curve.
b
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Refer to Figure 11-3. Technological change is shown in the figure above by the movement from
A) B to E. B) B to A. C) B to C. D) B to D.
Which of the following was the fastest-growing financial intermediary of the 1970s?
A) commercial banks B) credit unions C) finance companies D) money market mutual funds
Which of the following is NOT a condition for price discrimination to exist?
A) downward sloping demand curve faced by the firm B) identification of buyers with differing elasticities C) unpatented product or the service D) ability to prevent the resale of the product or service
Strategic behavior occurs when:
a. there are a large number of firms selling identical products. b. there is only one firm in the market. c. the firms have no command over the prices of the good they produce. d. the firms can take any decision irrespective of what their rival does. e. what is best for a firm depends on what his rival does.