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Labor Saving Technological Progress can be defined as:

A. Technological progress that causes to raise the marginal product of capital and labor in the same proportion

B. Technological progress that causes the marginal product of capital to increase relative to the marginal product of labor

C. Technological progress that causes the marginal product of labor to increase relative to the marginal product of capital

D. None of the above

Related Questions

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  2. Nash Equilibrium is stable:
  3. The main contribution of Malthus is in the field of:
  4. In the case of an inferior good, the income effect:
  5. Most of the supply curves with which the average consumer deals are:
  6. An inferior commodity is one whose quantity demand decreases when income of the consumer:
  7. The isoquant which are generated by CES (constant elasticity of substitution) production function are…
  8. Liquidity of Preference Theory was introduced by:
  9. The cost curves of the firm shift due to changes in:
  10. In Bertrand model, the entry of new firms is:
  11. According to Marshal, the Law of Diminishing Returns is applicable to:
  12. Necessary condition for consumer equilibrium is:
  13. The general markets results from the imposition of price ceilings has been:
  14. When total revenue is maximum in monopoly, elasticity of demand is:
  15. The market demand shedule is determined by:
  16. An economic model describing the working of an economy consists of:
  17. A monopolist:
  18. Now-a-days in real life, we are unable to fined:
  19. In cournot model, firms make decisions separately regarding:
  20. A fall in demand for the product under monopolistic competition will likely result in:
  21. In dominant strategies I am doing the best, I can no matter:
  22. At a point below the middle of a straight line demand curve, elasticity of demand is:
  23. At a point above the middle of a straight line demand curve, elasticity of demand is:
  24. An indifference curve normally slopes downward from:
  25. If the price of a product falls then quantity demanded tends to increase ceteris paribus because:
  26. In which case the elasticity shown by the different points of a curve is the same?
  27. A firm considering what type of new plant to build is involved in a:
  28. When marginal costs curve cuts average costs curve, average costs are:
  29. The main contribution of Prof. R.G.D.Allen is in the field of:
  30. In respect of which of the following category of goods is consumers surplus highest?

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