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

question 137

Multiple Choice

If a firm adopts a labor-augmenting 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 of labor.

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Definitions:

Correlated

When two or more variables are related in some way, meaning that a change in one variable is associated with a change in another.

Aggregate Forecasts

Predictions of future demand, sales, or other metrics for entire markets or sectors, typically used for strategic planning.

Disaggregate Forecasts

Disaggregate forecasts involve breaking down aggregate predictions into more detailed, specific forecasts, such as by product, region, or customer segment, to improve planning and decision-making.

Short-Term Forecasts

Predictions about future events or trends that are expected to occur within a relatively brief period, typically less than one year.