Which of the Following Is an Advantage to a Firm

question 203

Short Answer

Which of the following is an advantage to a firm with increasing productivity?
Machine breakdowns will be less likely
Raw materials will decline in price
The firm can afford to pay workers higher wages without raising prices
Workers will not want to unionize
The standard of living of its employees will fall

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Definitions:

Confirmation Bias

Confirmation bias is the tendency to search for, interpret, favor, and recall information in a way that confirms one's preexisting beliefs or hypotheses.

Principle Of Falsifiability

The principle that a scientific theory must make predictions that are specific enough to expose the theory to the possibility of disconfirmation; that is, the theory must predict not only what will happen but also what will not happen.

Denialism

The refusal to accept well-established facts or evidence, often in the context of scientific or historical truths.

Cognitive Inertia

The tendency of human minds to stick to existing thought patterns or beliefs, resisting changes even in the face of new information.