An Increase in Technology Will Cause a Marginal Revenue Product

question 103

Multiple Choice

An increase in technology will cause a marginal revenue product of labor curve to

• A) be unaffected because the productivity of labor has not changed.
• B) shift to the left.
• C) shift to the right.
• D) become more inelastic.

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Definitions:

Impossibility of Performance

A legal concept where a party cannot fulfill their contractual obligations due to unforeseen and uncontrollable circumstances.

Subject Matter

The topic, content, or substance that is being discussed or dealt with in a legal document, conference, or case.

Illegal

An action, item, or behavior prohibited by law and subject to penalties upon violation.

Consequential Damages

Financial losses suffered as a consequence of a breach of contract, beyond the immediate scope of the direct damages, not always recoverable under certain contracts.