Americans are always connected today, talking on the phone at home, while driving down the road and while shopping for groceries. But that wasn't always the case
In fact, it wasn't that long ago people had to go through an operator in order to get connected with the person they were trying to reach. How do cell phones impact the labor market for telephone operators? A) Decreased telephone operators' value of marginal product
B) Increased the demand for telephone operators
C) Increased the supply for telephone operators
D) Decreased the marginal productivity of telephone operators
A
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"If country A has a higher level of real GDP per person than country B, then people in Country A must enjoy a higher standard of living than people in Country B." Is this statement true or false? Explain your answer
What will be an ideal response?
At McDonald's, economies of scale at the plant (or restaurant) level occur
a. over the range of output for which that restaurant's average cost curve is upward sloping b. over the range of output for which that restaurant's average cost curve is horizontal c. over the range of output for which that restaurant's average cost curve is downward sloping d. at all levels of output e. only in the short run