If a Firm Adopts a Labor-Saving Piece of Technology,it Will

question 127

Multiple Choice

If a firm adopts a labor-saving piece of technology,it will:

• A)increase the marginal product of labor.
• B)decrease the marginal product of labor.
• C)increase the marginal supply of labor.
• D)decrease the marginal supply for labor.

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Definitions:

Marketing Plan

A comprehensive document or blueprint outlining a business's marketing strategies, efforts, and campaigns for a specific period.

Marketing Strategy

A comprehensive plan formulated by businesses to achieve specific marketing-related goals and objectives through various actions and campaigns.

Strategic Choices

Decisions made by an organization to determine the direction of its activities, involving the selection of markets, determining competitive positioning, and allocation of resources.

Decentralized Marketing

A marketing strategy where decision-making is distributed among various units or groups within an organization, rather than centralized in a single location.