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Author Question: One hundred years ago, in North America and Europe it was commonplace for middle class households to ... (Read 197 times)

tspaw0811

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on: Oct 12, 2022
One hundred years ago, in North America and Europe it was commonplace for middle class households to employ housemaids. As you know, this is quite rare today. Most such households now have dishwashers, washing machines and dryers. What is an explanation of this change?
◦ Households substituted away from a factor whose price was falling (labour) and toward a factor whose price was rising (capital).
◦ Over long periods of time, capital is always replaced by labour.
◦ Households substituted away from an increasingly expensive factor (labour) and toward an increasingly inexpensive factor (capital).
◦ The marginal product of labour was falling over time while the marginal product of capital was rising.
◦ Over long periods of time, labour is always replaced by capital.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by tspaw0811 on Oct 12, 2022

Khareemom14

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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tspaw0811

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Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)

okolip

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Reply 3 on: Yesterday
Wow, this really help

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