New technology that increases labor productivity will
a. lower the wage rate
b. decrease the demand for labor because fewer workers are needed
c. decrease the supply of labor because fewer workers are needed
d. increase the demand for labor because the MPP curve shifts to the right
e. decrease the demand for labor because the MPP curve shifts to the left
D
Economics
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What will be an ideal response?
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Price searchers can be expected to charge a price that
a. is the highest at which consumers will purchase any units. b. they expect to provide the largest possible flow of gross revenue. c. minimizes their per-unit costs of production. d. maximizes their profit.
Economics