An increase in the marginal productivity of labor will tend to
a. shift the labor supply curve rightward if the change is temporary.
b. result in an increase in employment if the change is temporary.
c. result in an increase in employment if the change is permanent.
d. all of the above.
d. all of the above.
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Firms undertake multinational operations in order to
A) hire low-wage workers. B) manufacture in nations they have difficulty exporting to. C) obtain necessary factor inputs. D) All of the above
The firm's expansion path records:
a. profit-maximizing output choices for every possible price. b. cost-minimizing input choices for all possible output levels for when input rental rates expand along with production. c. cost-minimizing input choices for all possible output levels for a fixed set of input prices. d. cost-minimizing input choices for profit-maximizing output levels.