Computers and laser scanners are ________ for low-skilled labor and ________ for high-skilled labor. The introduction of these technologies ________ the wage rate of high-skilled workers and ________ the wage rate of low-skilled workers

What can good assumptions do?

a) cause economists to leave out important variables that make their theories worthless b) simplify the complex world and make it easier to understand c) further complicate an already difficult topic d) allow economists to see the "big picture" instead of only small segments

Consider an industry that is in long-run equilibrium. An increase in demand leads to no change in the price of the good. We know that this is

A) a decreasing-cost industry. B) a constant cost industry. C) an increasing-cost industry. D) not a competitive industry.