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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Are unions and technological improvements complementary? Why or why not?

To determine

The reasoning for whether the unions and technological improvements are complimentary is to be determined.

Explanation

The two of them i.e. unions and technological improvements are not complementary rather are substitutes. This means both are used in place of each other. This can be understood as when the firm is deciding to use the equipment for the production then the firm will use capital and reduce the labor force i.e. unions...

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