Answer:
D
Explanation:
I think on its long run average cost,a firm will be producing at it lowest cost price(CP)
Answer:
D
Explanation:
D is the answer sjkrkdrir
The answer to this question will be C
Answer:
Increases; higher
Explanation:
Skill-Biased Technology Change can be referred to as a shift in the production technology that takes preference of high skilled labour or workers over unskilled labour or workers.
This is achieved by increasing its relative productivity and, therefore, its relative demand.
Also, human capital is the accumulated knowledge (from education and experience), skills, and expertise. When education advancement reduces human capital reduces which at the long run reduces the number of skilled labours.
If there's a reduction in the number of skilled labours, then firms and organisations will be willing to pay huge sum of keep their available skilled labour and to hire new ones.
