Asked by
Daniel Aldana
on Nov 16, 2024
Verified
Labor-augmenting technological advances increase the marginal productivity of labor.
Labor-augmenting
Refers to technological improvements or investments that increase the productivity of labor, allowing workers to produce more output per unit of labor.
Marginal Productivity
The additional output resulting from a one-unit increase in the input of a particular factor of production, while holding other inputs constant.
- Gain insight into how technological developments affect work productivity.
Verified Answer
RB
Learning Objectives
- Gain insight into how technological developments affect work productivity.
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