How does the graph look for the effect of a temporary but persistent increase in total factor productivity on current output. I know that the x axis is quality of labour (employment) and the y axis is level of current output but im not sure how the graph should look. Could you show me what the graph should look like?
How does the graph look for the effect of a temporary but persistent increase in total factor productivity on current output. I know that the x axis is quality of labour (employment) and the y axis is level of current output but im not sure how the graph should look. Could you show me what the graph should look like?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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How does the graph look for the effect of a temporary but persistent increase in total factor productivity on current output. I know that the x axis is quality of labour (employment) and the y axis is level of current output but im not sure how the graph should look. Could you show me what the graph should look like?
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