A Technological Change That Increases the Value of Marginal Product

question 90

Multiple Choice

A technological change that increases the value of marginal product of labour shifts the labour

• A)demand curve leftward.
• B)demand curve rightward.
• C)supply curve leftward.
• D)supply curve rightward.
• E)B and D.

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Definitions:

Employer

An individual or entity that hires and pays people to work on their behalf, often to produce goods or provide services.

Mixed

A type of economic system combining elements of both capitalism and socialism, featuring a blend of private and public ownership.

Command

A directive or an instruction, often used in the context of command economies where the government directs economic activity.

Capitalistic

Pertaining to an economic system where private owners control trade and industry rather than being state-owned.