Author Question: Which of the following best describes the impact of technological change on labor? a. Technology ... (Read 75 times)

Anajune7 · **on:** Jun 30, 2018

Which of the following best describes the impact of technological change on labor?
a. Technology causes unemployment in the short run and lower incomes in the long run.
b. Technology causes unemployment in the short run and higher incomes in the long run.
c. Technology causes unemployment in the long run and higher incomes in the short run.
d. Technology causes unemployment in the long run and lower incomes in the short run.
e. Technology causes unemployment and lower incomes in both the long run and the short run.

Question 2

Government regulators can achieve efficiency for a natural monopoly by setting a price ceiling equal to the intersection of the demand curve and the:
a. marginal revenue curve.
b. average cost curve.
c. marginal cost curve.
d. average fixed cost curve.