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Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050

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BuyFindarrow_forward

Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050
Textbook Problem

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

To determine
Technological advancement and productivity.

Explanation

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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