Asked by
Daniel Bogale
on Dec 17, 2024
Verified
Labor-saving technological advances decrease the marginal productivity of labor.
Marginal Productivity
The additional output resulting from the use of one more unit of a factor of production, holding other factors constant.
Labor-saving
Technologies or methods that decrease the amount of work required to produce goods or services, often leading to increased efficiency.
- Understand the impact of technological advances on labor productivity.
Verified Answer
PA
Learning Objectives
- Understand the impact of technological advances on labor productivity.
Related questions
Technological Advances Can Cause the Labor Demand Curve to Shift
Labor-Augmenting Technological Advances Increase the Marginal Productivity of Labor
Which of the Following Is the Primary Source of Cross-Country ...
Technological Progress Generally Has the Effect of ...
New Technological Advancements, Such as Robots Are ...