If a Firm Adopts a Labor-Augmenting Piece of Technology

question 140

Multiple Choice

If a firm adopts a labor-augmenting piece of technology:

• A)labor demand will increase.
• B)labor supply will increase.
• C)labor demand will decrease.
• D)labor supply will decrease.

Recognize the role of social change in influencing group dynamics and individual identities.

Understand the concept and implications of social influence in various contexts.

Explain the dynamics and effects of conformity within groups and society.

Comprehend the phenomenon of social loafing and strategies to mitigate it.

---

Definitions:

Capital

Resources made and used by humans to produce goods and services, including buildings, machinery, and equipment.

Barriers to Entry

Obstacles that prevent new competitors from easily entering an industry or area of business.

Industry Structure

The characteristics that influence the nature of competition and pricing in a particular industry, including the number and size of firms, entry barriers, and product differentiation.

Government Restrictions

Regulations imposed by authorities to control or limit certain activities, behaviors, or operations.