Asked by Jenny Bodden on Jul 22, 2024
Verified
The figure below shows a per-worker production function.A technological improvement would make Point C attainable.
Technological Improvement
The process of innovation where better technologies make production more efficient, leading to higher output with the same input.
Per-Worker Production Function
The per-worker production function depicts the relationship between the average product output per employee and the inputs used per employee, highlighting the efficiency of labor in production.
Attainable
Referring to a goal or objective that can be reached or achieved, especially through effort or strategy.
- Learn about the determinants of productivity expansion and how they affect the economic environment in the U.S.
- Gain insight into the value of technology improvements and their bidirectional influence on job markets and output levels.
Verified Answer
Learning Objectives
- Learn about the determinants of productivity expansion and how they affect the economic environment in the U.S.
- Gain insight into the value of technology improvements and their bidirectional influence on job markets and output levels.
Related questions
Technological Change Creates Long-Term Hardships for Workers with Specialized Skills
Over the Long Run,technological Change Increases Both Labor Productivity and ...
Other Things the Same, a Country That Increases Its Savings ...
Which Statement Is True ...
Statement I: in Recent Years,American Basic Skills in Reading,writing,and Arithmetic ...