Principles of Microeconomics
Principles of Microeconomics
A technological advance that increases the marginal product of labor shifts the labor- _______ curve to the _____________.
a. demand, left
b. demand, right
c. supply, left
d. supply, right
Sub part (b):
A technological advance that increases the marginal product of labor, leads to increase the output. This in turn, increases the demand for labor. Increasing demand for labor due to non price factor, leads to shifts the demand curve towards the right. Thus, the option “b” is correct.
Sub part (a):
The demand curve shifts leftward, when there is a decrease in the demand due to the changes occurred in the non price factor...
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