The First 3 Columns of the Following Table Show Data

question 56

Multiple Choice

The first 3 columns of the following table show data for a representative firm in an industry.The last 3 columns show the market demand and supply for the type of labour employed by this firm.

-What will be the effect if an economy experiences growth in its labour productivity over a period of years?

• A)The marginal revenue product of labour will decrease and,graphically,the demand for labour curve will shift to the right.
• B)The marginal revenue product of labour will increase and,graphically,the demand for labour curve will shift to the right.
• C)The marginal revenue product of labour will increase and,graphically,the supply of labour curve will shift to the left.
• D)The marginal revenue product of labour will increase and,graphically,the supply of labour curve will shift to the right.

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Definitions:

Outdoor Challenges

Activities or exercises conducted in the outdoors aimed at development, learning, or testing endurance and teamwork.

Incremental Change

Gradual, small-scale adjustments or improvements made over time within an organization, as opposed to large, radical transformations.

Strategic Change

Alterations made to the overall goals, operations, cultures, or major components of an organization to address internal or external challenges.

Transformational Change

A significant, radical change in an organization that fundamentally alters its culture, operations, and direction, often in response to major external shifts.