Suppose that a college physics experiment goes horribly wrong and releases an electronic pulse that renders all electronic equipment in the city of San Francisco,California permanently useless.No people are hurt,and no buildings are damaged.After the accident,the wages earned by California workers will

Question

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Without electronic equipment, many industries and businesses in San Francisco will not be able to operate efficiently or at all, leading to lower productivity and potentially job losses. This will, in turn, reduce the wages earned by California workers as there will be a decrease in demand for labor. Therefore, the marginal productivities of workers will decrease, leading to lower wages.

Suppose That a College Physics Experiment Goes Horribly Wrong and Releases