-In the Above Figure,an Increase in Productivity

question 119

Multiple Choice

-In the above figure,an increase in productivity

• A)shifts the supply curve from S to S1.
• B)shifts the supply curve from S to S2.
• C)results in a movement from point a to point b.
• D)results in a movement from point b to point a.
• E)has no effect.

Understand how government interventions like taxes and subsidies impact market efficiency and resource allocation.

Identify the conditions necessary for a market to achieve allocative efficiency.

Explain the concept of efficiency loss (deadweight loss) and its causes in a market.

Distinguish between positive and negative externalities and their impact on social welfare.

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Definitions:

Telecommuting

Working at home or from a remote location using computers and advanced telecommunications.

Task Variety

Describes the degree to which a job involves different activities and skills to complete the work.

Job Enlargement

The process of increasing the variety and number of tasks that an employee performs to reduce monotony and increase job satisfaction.

Compressed Workweek

Allows a full-time job to be completed in fewer than the standard five days.