The Introduction of Automatic Elevator Equipment Allowed Firms to Handle

question 102

Multiple Choice

The introduction of automatic elevator equipment allowed firms to handle the movement of people in a multistory building at less cost, thus decreasing the demand for elevator operators. The best explanation for this change is that the

• A) marginal product of elevator operators was equal to its price.
• B) marginal product of automatic elevator equipment was equal to its price.
• C) marginal product of automatic elevator equipment divided by its price was greater than that for elevator operators.
• D) marginal product of elevator operators divided by its price was greater than that for automatic elevator equipment.

Identify the different types of body membranes and their locations.

Describe the process and cellular components of the inflammatory response.

Understand the role of different cell types in tissue repair and infection control.

Recognize the steps involved in the healing process of wounds.

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Definitions:

Production Possibilities

The various combinations of goods and services that can be produced by an economy given its available resources and technology, illustrating potential trade-offs and efficiency.

Comparative Advantage

An economic principle that states a country should produce and export goods for which it is more efficient at producing than other countries, and import goods that it is less efficient at producing.

Terms of Trade

The ratio of an index of a country's export prices to an index of its import prices, affecting the balance of trade.

Production Possibilities

The different combinations of goods and services that an economy can produce given its available resources and technology, typically represented by a curve.