Answered: Technological progress decreases the…

Technological progress decreases the marginal product of labor if a new input is developed that is complementary with labor. True False

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter7: Production Economics

Section: Chapter Questions

Problem 1.2CE

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Technological progress decreases the marginal product of labor if a new input is developed that is complementary with labor.

True

False

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