Multiple Choice
The widget industry is perfectly competitive and produces 1000 widgets.Currently,it takes one unit of skilled labor and two units of unskilled labor to produce one widget.Technological change then increases the productivity of skilled labor only.Afterward,the total employment of skilled workers goes up.Which of the following is consistent with this result? ________ units of skilled workers and two units of unskilled labor are needed to produce one widget and total output is ________ widgets.
A) 0.75; 1100
B) 1.25; 1600
C) 1.25; 1100
D) 0.75; 1600
Correct Answer:
Verified
Correct Answer:
Verified
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