Question: How do labor - saving technologies differ from labor - complementary technologies? A . Labor - saving technologies substitute for existing labor inputs, while labor
How do laborsaving technologies differ from laborcomplementary technologies?
A Laborsaving technologies substitute for existing labor inputs, while laborcomplementary technologies augment existing labor inputs.
B Laborsaving technologies result in lower wages and less employment, while laborcomplementary technologies result in higher wages and more employment.
C Laborsaving technologies decrease the marginal product of labor, while laborcomplementary technologies increase the marginal product of labor.
D All of the above.
For simplicity, consider a monopolist with no costs whatsoever; thus profit is revenue, which is just price multiplied by quantity. Demand consists of two gre are adults: are willing to pay $ and are willing to pay $ There are also children: are willing to pay $ and are willing to pay $
The best single uniform price to charge is $
Suppose the monopolist could price discriminate by setting a different price for each group.
The monopolist's best price to charge adults is $ and his best price to charge children is $
For simplicity, consider a monopolist with no costs whatsoever; thus profit is revenue, which is just price multiplied by quantity. Demand consists of two gre are adults: are willing to pay $ and are willing to pay $ There are also children: are willing to pay $ and are willing to pay $
The best single uniform price to charge is $
Suppose the monopolist could price discriminate by setting a different price for each group.
The monopolist's best price to charge adults is $ and his best price to charge children is $
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