Asked by Julia Holsten on Jul 23, 2024
Verified
Refer to Table 18-6. Suppose that there is a technological advance that allows MadeFromScratch employees to produce more cupcakes than they could before. Because of this change, the firm's
A) demand for labor shifts right.
B) demand for labor shifts left.
C) supply of labor shifts right.
D) supply of labor shifts left.
Technological Advance
Improvements or innovations in technology that enhance productivity or efficiency in production processes.
- Grasp the impact of technology on production efficiency and labor demand.
Verified Answer
BG
Breeann GarverJul 23, 2024
Final Answer :
A
Explanation :
A technological advance that increases productivity would make each worker more valuable to the firm, leading to an increased demand for labor, hence shifting the demand curve for labor to the right.
Learning Objectives
- Grasp the impact of technology on production efficiency and labor demand.
Related questions
Laura's Internet Services Firm Can Design Computer Systems According to ...
The Production Function for Spacely Sprockets Is K Represents ...
The Following Figure Has Four Graphs Showing the Production Possibilities ...
An Improvement in Technology: ...
Related to the Economics in Practice on Page 716: in ...