Suppose a worker at a computer company rearranges existing machines and labor and increases production in...
Suppose a worker at a computer company rearranges existing machines and labor and increases production in the process. Using the production function, with output on the vertical axis and labor on the horizontal axis, this would be described as
a. an upward shift of the curve combined with an upward movement along the curve.
b. a movement upward along the curve.
c. a movement downward along the curve.
d. a downward shift of the curve.
e. an upward shift of the curve.
Homework Answers
Answer
Option
e. an upward shift of the curve.
The increase in the production which is on the vertical axis shifts the curve upward and it is not an upward or downward movement along the curve as there is no change in the number of inputs that are on the horizontal axis.
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