Homework Help is Here – Start Your Trial Now!
Business
Economics
Suppose that a technological innovation increases the marginal productivity in a perfectly competitive labour market. All the rest equal, at the new market equilibrium, O A. the number of workers employed raises, but the wage rate paid is lower O B. the level of employment and the wage rate are both higher OC. the wage rate and the employment level decrease O D. the wage rate increases, but employment is lower

Suppose that a technological innovation increases the marginal productivity in a perfectly competitive labour market. All the rest equal, at the new market equilibrium, O A. the number of workers employed raises, but the wage rate paid is lower O B. the level of employment and the wage rate are both higher OC. the wage rate and the employment level decrease O D. the wage rate increases, but employment is lower

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter14: Labor Markets And Income
Section: Chapter Questions
Problem 1SCQ: Table 14.10 shows levels of employment (Labor), the marginal product at each of those levels, and...
See similar textbooks
icon
Related questions
Question

can anyone help me with this mcq? Thx

Suppose that a technological innovation increases the marginal productivity in a perfectly competitive labour market. All the rest equal, at the new market equilibrium, O A. the number of workers employed raises, but the wage rate paid is lower B. the level of employment and the wage rate are both higher O C. the wage rate and the employment level decrease O D. the wage rate increases, but employment is lower
Transcribed Image Text:Suppose that a technological innovation increases the marginal productivity in a perfectly competitive labour market. All the rest equal, at the new market equilibrium, O A. the number of workers employed raises, but the wage rate paid is lower B. the level of employment and the wage rate are both higher O C. the wage rate and the employment level decrease O D. the wage rate increases, but employment is lower
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Profit Function
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Principles of Economics 2e
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Microeconomic Theory
Microeconomic Theory
Economics
ISBN:
9781337517942
Author:
NICHOLSON
Publisher:
Cengage
Exploring Economics
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
Microeconomics: Principles & Policy
Microeconomics: Principles & Policy
Economics
ISBN:
9781337794992
Author:
William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:
Cengage Learning
Principles of Microeconomics
Principles of Microeconomics
Economics
ISBN:
9781305156050
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Economics:
Economics:
Economics
ISBN:
9781285859460
Author:
BOYES, William
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS