In the Distant Future,companies Will Be Using Technology That Can

question 113

Multiple Choice

In the distant future,companies will be using technology that can replicate food.What will happen to the equilibrium wage and quantity of cooks?

• A) The wage will rise and the number of cooks employed will rise.
• B) Both will remain unchanged.
• C) The wage will stay the same,but many cooks will leave the market.
• D) The wage will rise,and the number of cooks employed will fall.
• E) The wage and quantity demand will both decrease because firms won't hire as many cooks.

---

Definitions:

Book Value

The value of an asset as it appears on the balance sheet, calculated by subtracting any associated depreciation or amortization from its original cost.

Machinery

This term refers to machines and equipment used in manufacturing processes to produce goods.

Fully Depreciated

A state where an asset's cost has been completely expensed over its useful life, reducing its book value to zero or salvage value.

Machinery

Tangible assets used in operations, such as production or manufacturing equipment, that have a useful life beyond one year.