Ask Question
BusinessBusiness
19 September, 14:12

What is the impact of an increase in worker productivity when demand is relatively more elastic?

+1
Answers (1)
  1. 19 September, 15:14
    0
    The revenue of the firm will increase.

    Explanation:

    An increase in worker productivity will cause an increase in the level of output as the firm will be able to produce more by using the same amount of labor.

    The supply of the curve will move to the right. The supply of the firm will increase. This will cause a decrease in the price of the product.

    If the demand is relatively more elastic, the proportionate decrease in price will cause a more than proportionate increase in the demand for the product.

    As a result, the total revenue of the firm will increase.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “What is the impact of an increase in worker productivity when demand is relatively more elastic? ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
What privacy issues are most important to small businesses
Answers (1)
Which of the following costs is a direct materials cost for a guitar manufacturing company? a. The cost of the guitar stringsb. The cost of gluec. The cost of the oil used to lubricate the machineryd.
Answers (1)
The measure of how long a company holds inventory before selling it is called the
Answers (1)
Brainstorm a list of 10 action verbs. Use each of the action verbs to create a statement illustrating your qualifications.
Answers (2)
Jordan loaned taylor $1,200 on march 15, 2009. taylor returned $1,260 on march 14, 2010. inflation was 2% over the 1-year period. what is the real interest rate that taylor paid? a. 2% b. 3% c. 5% d. 7%
Answers (1)
New Questions in Business
A currency trader observes the following quotes in the spot market: 1 U. S. dollar = 122 Japanese yen 1 British pound = 2.25 Swiss francs 1 British pound = 1.63 U. S.
Answers (1)
Mary, Susan, and Sarah are running a beach boutique on the board walk of Ocean City. Their favorite product is a red lifeguard hoody. Mary believes it will sell 341 times next season.
Answers (1)
Stone Foods produces the majority of its cheese products in its U. S. based dairy division at a total outlay cost of $6.00 per unit.
Answers (1)
The last dividend paid by Coppard Inc. was $1.25. The dividend growth rate is expected to be constant at 15% for 3 years, after which dividends are expected to grow at a rate of 6% forever.
Answers (1)
ABC Company issued a bond with face value for $1000, paid annual 10% coupon and 3 years to maturity, what is the value of ABC bonds today if the required rate of return is 12%.
Answers (1)
Home » Business » What is the impact of an increase in worker productivity when demand is relatively more elastic?
Sign Up Forgot Password?