What Will Happen to the Demand Curve for Workers in Steel

question 195

Multiple Choice

What will happen to the demand curve for workers in steel mills if some technology that increases their productivity is introduced,assuming all else equal?

• A) There will be a downward movement along the demand curve for the workers.
• B) There will be an upward movement along the demand curve for the workers.
• C) There will be a right shift of the demand curve for the workers.
• D) There will be a left shift of the demand curve for the workers.

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Definitions:

Economic Viability

The ability of an entity or activity to sustain itself financially over the long term.

Alternatives

Different options or choices available in a given situation, often considered when making decisions.

Reducing Cost

Measures taken to decrease the costs associated with the production or delivery of goods and services.

Modernization

The process of adopting the latest technology, organizational practices, or societal norms, aiming at improving efficiency and effectiveness.