Author Question: If an industry introduces a labor-saving technology in production, the demand curve for labor in ... (Read 55 times)

lak · **on:** Jun 29, 2018

If an industry introduces a labor-saving technology in production, the demand curve for labor in that industry is likely to:

A) shift to the left.
B) shift to the right.
C) become vertical.
D) become horizontal.

Question 2

Suppose it costs a farmer 1.00 to produce 1 unit of corn, 2.10 to produce 2 units of corn, and 3.30 to produce 3 units of corn. What's the marginal cost of producing 3 units of corn?

A) 0
B) 30 cents
C) 1.10
D) 1.20
E) 3.30