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Suppose a firm did riveted a useful production technique. We can expect:  a. The firm to hire fewer workers  b. The firms labour demand curve to shift right  c. The firms labour demand to shift left d. The firms labour curve to remain unchanged

Suppose a firm did riveted a useful production technique. We can expect:  a. The firm to hire fewer workers  b. The firms labour demand curve to shift right  c. The firms labour demand to shift left d. The firms labour curve to remain unchanged

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Suppose a firm did riveted a useful production technique. We can expect: 

a. The firm to hire fewer workers 

b. The firms labour demand curve to shift right 

c. The firms labour demand to shift left

d. The firms labour curve to remain unchanged 

Expert Solution
Step 1

Labor: - labor is one of the factors of production, any physical and mental work by humans against a monetary reward or we can say wage is considered as labor. A human is considered as a laborer and when he works for a wage then that work is considered as labor but work done for self-satisfaction is not labor.

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