This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: In what way does land differ from other inputs such as labor and capital? What will be an ideal ... (Read 79 times)

deesands

  • Hero Member
  • *****
  • Posts: 514
on: Jun 29, 2018
In what way does land differ from other inputs such as labor and capital?
 
  What will be an ideal response?

Question 2

Script Pro produces robots that are sold to retail pharmacies. Among other things the robotsprint and apply the prescription and auxiliary labels and delivers uncapped vials for final inspection using on-screen drug image verification.
 
  The manager of the pharmacy is trying to calm his workers' fear that their jobs are in jeopardy if he starts using these robots. What economic explanation could the manager use to assuage the fears of his employees that their jobs are in jeopardy.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

lin77x

  • Sr. Member
  • ****
  • Posts: 326
Reply #1 on: Jun 29, 2018
Answer to Question 1

Unlike labor and capital, land is in strictly fixed supply. Therefore, its supply is perfectly inelastic.

Answer to Question 2

The robots appear to be a substitute for labor. And in fact they very well may just that. However, they are also a complement to labor. Now workers in the pharmacy have more free time to use performing other tasks. This may actually increase their productivity to the pharmacy and make them more valuable to the employer.


deesands

  • Member
  • Posts: 514
Reply 2 on: Jun 29, 2018
Gracias!

strudel15

  • Member
  • Posts: 324
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Romanesque capital showing Samson and the lion (13th century). Romanesque capital showing Samson and the lion (13th century).
This graphic illustrates the original systems model of politics advanced by David Easton. Politics This graphic illustrates the original systems model of politics advanced by David Easton. Politics
For millions of people, the United States represents a land of opportunity and freedom from ... For millions of people, the United States represents a land of opportunity and freedom from ...
The method of Land’s (1977) color-vision experiments. Subjects viewed Mondrians illuminated by ... The method of Land’s (1977) color-vision experiments. Subjects viewed Mondrians illuminated by ...
Labor Labor
Video: Factors that increase metabolic rate and heat production

For a complete list of videos, visit our video library