Which of the following events may increase the marginal product of labor? Select all that apply.

A. Good weather causes an increase in supply and a fall in price for one of the inputs used to make the good

B. A technological improvement that is substitutable for the labor in this market

C. A technological improvement that is complementary for this type of labor

D. A decrease in the wage rate

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Joshua StredderLv10

27 Oct 2020

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What factors determine the elasticity of resource demand? What effect will each of the following have on the elasticity or the location of the demand for resource C, which is being used to produce commodity X? Where there is any uncertainty as to the outcome, specify the causes of that uncertainty.

(a) An increase in the demand for product X.

(b) An increase in the price of substitute resource D.

(d) A technological improvement in the capital equipment with which resource C is combined.

(e) A fall in the price of complementary resource E.

(f) A decline in the elasticity of demand for product X due to a decline in the competitiveness of product market X.

emeraldscorpion271

Which of the following causes an increase in the demand for labor?

a) an increase in the wage rate

b) an increase in the price of the good that labor is producing

c) a decrease in the marginal product of labor

d) a decrease in the demand for the good that labor is producing

e) a decrease in the price of capital, a substitute for labor