Suppose that the market for labor is initially in equilibrium. If the firm employs labor-augmenting technology, the equilibrium wage
a. and the equilibrium quantity of labor will rise.
b. and the equilibrium quantity of labor will fall.
c. will rise, and the equilibrium quantity of labor will fall.
d. will fall, and the equilibrium quantity of labor will rise.
a
Economics
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An increase in government spending with no change in taxes leads to a
A) lower income level B) lower price level C) smaller money supply D) higher interest rate E) higher bond price
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If bananas were used as money, which of the following functions of money would be the hardest for bananas to satisfy?
A) unit of account B) store of value C) divisibility D) medium of exchange
Economics