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Kolbie Hennes
on Oct 26, 2024

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(Figure: The Demand for Bricklayers) Use Figure: The Demand for Bricklayers.If there is an increase in technology that increases the productivity of bricklayers,then the value of the marginal product of the sixth bricklayer will be _____ than _____.

A) less;$80
B) greater;$100
C) less;$60
D) greater;$110

Productivity

The efficiency of production, measured as the ratio of output to inputs used in the production process.

Marginal Product

Marginal Product refers to the additional output generated by employing one more unit of a particular input, holding all other inputs constant.

Bricklayers

Skilled tradespeople who lay bricks, concrete blocks, stone, and other masonry materials to construct or repair walls, foundations, partitions, and other structures.

  • Comprehend the connection between technology, productivity, and the marginal product of labor's value.
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Aaron De JesusOct 28, 2024
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