Question 7Superior technologydeteriorates labor productivity and increases total supply of goods & servicesShifts AS leftwardimproves labor productivity and increases total supply of goods & servicesimproves labor productivity and decreases total supply of goods & services

a) lowers the overall productivity of workers while simultaneously raising the total supply of…

Answered: Question 7 Superior technology…

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter9: Production Functions

Section: Chapter Questions

Problem 9.2P

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QUESTION 43 Figure 18-1 On the graph, L represents the quantity of labor and Q represents the quantity of output per week. 420 390 345 285 210 120 1 (i) (ii) (iii) (iv) O a. (ii) and (iv) only O b. (i) and (iv) only O c. (i) and (iii) only O d. (i) only 2 QUESTION 44 3 4 Refer to Figure 18-1. Based on the shape of the curve, the total product is increasing. total product is decreasing. marginal product is increasing. marginal product is decreasing. 5 6 L
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Question 7 Superior technology deteriorates labor productivity and increases total supply of goods & services Shifts AS leftward improves labor productivity and increases total supply of goods & services improves labor productivity and decreases total supply of goods & services