If an industry introduces a labor-saving technology in production, the demand curve for labor in that industry is likely to:
A) shift to the left.
B) shift to the right.
C) become vertical.
D) become horizontal.
A
Economics
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Compare and contrast the potential for a perfectly competitive firm and a monopolistically competitive firm to earn positive economic profits in the short run versus the long run. Explain your reasoning
What will be an ideal response?
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When firms use resources in an attempt to secure and maintain grants of market protection from the government, it is called
a. rent-seeking. b. collusion. c. franchising. d. resource investment.
Economics