Asked by Angelica Golebiewski on Jun 12, 2024
Verified
The introduction of automatic elevator equipment allowed firms to handle the movement of people in a multistory building at less cost, thus decreasing the demand for elevator operators. The best explanation for this change is that the
A) marginal product of elevator operators was equal to its price.
B) marginal product of automatic elevator equipment was equal to its price.
C) marginal product of automatic elevator equipment divided by its price was greater than that for elevator operators.
D) marginal product of elevator operators divided by its price was greater than that for automatic elevator equipment.
Marginal Product
The additional output produced as a result of using one more unit of a variable input, like labor or capital.
Automatic Elevator Equipment
Systems and machinery used in elevators that allow them to operate without manual control by an operator.
Elevator Operators
Individuals tasked with managing and operating elevators, ensuring safe and efficient transportation of passengers between different floors of a building.
- Acquire an understanding of the consequences that technological progressions have on the solicitation for varied types of labor and capital.
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Learning Objectives
- Acquire an understanding of the consequences that technological progressions have on the solicitation for varied types of labor and capital.
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