Principles of Economics (Second Edition)
2nd Edition
ISBN: 9780393614077
Author: coppock, Lee; Mateer, Dirk
Publisher: W. W. Norton & Company
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Question
Chapter 14, Problem 7QFR
To determine
To explain:
The effect of increase in productivity of workers on demand for labor, on wages and on the number of workers hired.
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Chapter 14 Solutions
Principles of Economics (Second Edition)
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- To save money, some fast food chains are now having their customers place their orders at computer kiosks. Will the kiosks necessarily reduce the total number of workers employed in the fast food industry?arrow_forwardLabor demand In the long-run:describe what a firm will do when its long-run condition is not met, i.e, when will it hire more or less labor?arrow_forwardWhy does a fall in price of capital leads to increase in demand for labor?arrow_forward
- Which of the following is required for all workers to earn identical wages in the long run? Check all that apply.arrow_forwardSuppose the firm only produces good X and that the price of good Y, a substitutegood, decreases. What will happen to the optimal quantity of labor the firm willhire? Explain.arrow_forwardWhich of the following is likely to shift the labor supply curve to the right, assuming all else equal? A rise in the wage rate A fall in the wage rate A rise in the immigration of workers in search of better work opportunities A fall in the population of a country due to a natural disasterarrow_forward
- What is meant by an inferior factor of production? How would the firm’s demand for labour be altered if labour were an inferior factor of production?arrow_forwardYou are given a scenario where this a change in a factor of production or a change in demand for an item. You need to explain in sentence form how this would change the demand for labor. See the example and model your answers after how the example is written.arrow_forwardEquilibrium in the labour market depends on the demand for labour and the supply of labour. Graphically demonstrate how the supply of labour in the U.S. is affected by the increase in the labour force resulting from Mexican immigrants. What other factors that can cause the labour supply curve to shift?arrow_forward
- Explain how changes in technology affect and change the demand for labor. Distinguish between situations in which a particular type of technological change increases the demand for a particular type of labor and those in which it decreases the demand for a particular type of labor.arrow_forwardOne of these four answers could cause the demand curve for labor to shift to the right. Which one? Group of answer choices a decrease in the firm's product price an increase in demand for the firm's product a decrease in labor productivity an increase in the wage ratearrow_forwardDiscuss labor supply and demand. Besides training and education, what are some of the things that have a significant impact on the supply and demand of labor? Explain why you believe they have such an impact. What other factors can directly influence the labor market?arrow_forward
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