We often think of technology and labor as substitutes for each other, but technology can lead to the hiring of more labor if it:
A) decreases the average total cost of production.
B) decreases the compensating differential.
C) increases the marginal product of labor.
D) increases the opportunity cost of labor.
Correct Answer:
Verified
Q1: A firm is willing to hire a
Q3: Figure: Cleaners' Wages Q4: To maximize profit, a firm will hire Q5: As the wage for janitors falls, firms Q6: When wages decrease, firms will hire more Q7: The three-cylinder mill revolutionized sugar production around Q8: A firm will hire workers as long Q9: The marginal product of labor is: Q10: Table: Stone Masons Q11: Marián Hossa was paid $7.4 million by
A) the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents