Other things remaining the same, if an industry introduces a labor-complementary technology in production, the demand curve for labor in that industry is likely to:

A) shift to the left.
B) shift to the right.
C) become vertical.
D) become horizontal.


B

Economics

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In general, a change in the price of a good:

A. causes a substitution effect only. B. causes an income effect only. C. causes both an income and substitution effect. D. usually has no effect.

Economics

The more price elastic the demand curve, the less quantity demanded will fall when a per-unit tax is imposed

Indicate whether the statement is true or false

Economics

What word describes the goods and services that are used to produce outputs for a business?

A. Revenue B. Inputs C. Production D. Cost

Economics

A negative externality is a situation in which

A. a firm is paying in excess of the total costs of producing a good. B. a cost associated with an economic activity is borne by a third party. C. there is a spillover of benefits. D. None of these.

Economics