Answer:
If we find out that technology has shifted the labor demand to the left, this is a disadvantage to labor.
Explanation:
To begin with, It's important to properly understand the concept of Marginal Product of Labour.
In simple terms, marginal product of labor is basically the change in unit output occasioned by a unit change in labor. There are a number of factors that may cause a marginal change in labor. Suffix to say, marginal change can either be to the right or to the left.
To narrow it down, we have technology to consider as one of the factors that ensue marginal change. Even more, this change can either be to the right or left. That is, an increase in technology might result to an increase in unit labour - this is to the right. And this is beneficial or advantageous to labor. In same vein, a increase in technology might result to a decrease in unit labour - this is to the left. And this is disadvantageous to labor.
It's on established record that introduction of new technologies, procedures and processes often have a direct effect on an individual employee. This altogether affects the marginal product in labour.
Hence, when technology brings changes to the left, this is a disadvantage to labour, as there is possibly a downsizing or reduction in labor strengths occasioned by the new technologies.
The balance between supply and demand is known as the market equilibrium.
The supply and demand are determined through the price mechanism in a free market. Such as if the goods or services are bought more frequently then their prices will go up and vice versa.
This means that the price mechanism helps to determine what goods are to be produced. In the case where the demand for good increase will result in price go up and will ultimately result in producers supplying more of those goods.
This system of price helps to scale the point where competing demands may be weighed by the consumer or producer requirements.
However, the movement towards the price equilibrium and the resulting balance between the supply and demand is known as the market equilibrium.
Learn more on supply and demand here: brainly.com/question/4804206
Answer:
Marginal revenue is $2.99
Explanation:
A monopoly is defined as a situation where a single supplier determines the price and amount of a good that will be supplied.
Marginal revenue is defined as the additional revenue that is earned from increased unit of sale of a product.
The initial revenue earned is 100 units* $4= $400.
The present revenue is 101 units* $3.99= $402.99
Therefore the additional revenue is 402.99-400= $2.99
Answer:
$2,340
Explanation:
The computation of cash received from this loan is shown below:-
cash received from this loan = Approved amount - (Approved amount × Two year × Percentage of loan
)
= Approved amount - ($3,000 × 2 × 11%
)
= $3,000 - ($3,000 × 2 × 0.11
)
= $3,000 - $660
= $2,340
Therefore, for computing the cash will Patricia receive from this loan we simply applied the above formula.
Answer:
do you need help with that or are you saying that
Explanation: