When productivity increases, the demand for labor
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A company's demand for labor __________ as labor productivity increases.
A technological advance that increases labor productivity will:
a. lower wages
b. decrease the demand for labor as fewer workers are needed.
c. decrease the supply of labor as fewer workers are needed.
d. increase the demand for labor as MP rises.
e. decrease the demand for labor as MP falls.
a. Lower wages.
b. Decrease the demand for labor as fewer workers are needed.
c. Decrease the supply of labor as fewer workers are needed.
d. Increase the demand for labor as MP rises.
e. Decrease the demand for labor as MP falls.