Explain why wage rates might rise at Joe's Quik-Print Shop if Joe replaces his aging copy machines with state-of-the-art copy machines
The improvement in technology will boost the productivity of Joe's employees. Their MRP will rise, and since Joe's labor demand curve is the MRP curve, he will be willing and able to hire more workers and pay higher wage rates.
Economics
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The labor supply curve facing an individual employer in a perfectly competitive labor market is:
a. upward sloping. b. downward sloping. c. horizontal. d. greater than MFC. e. the MRP curve.
Economics
Immigration into Costa Rica reduces the Costa Rican labor force but adds to Costa Rican labor productivity
Indicate whether the statement is true or false
Economics