Reduces the cost of computer operated lathes

Assignment Help Business Economics

Reference no: EM13860646

If skilled machinists with advanced computer training and computer operated lathes are complements in production in high tech manufacturing but computer operated lathes are substitutes in production for machinists without computer training (unskilled), what will be the expected impact on employment of skilled and unskilled machinists of a technological invention that reduces the cost of computer operated lathes? (A lathe is a machine that makes metal parts in a manufacturing process.)

Reference no: EM13860646

Questions Cloud

Employers bear cost and earn return on specific training : Employees bear the cost and earn the returns on investments in general training and employers bear the cost and earn the return on specific training. Is this statement true, false, or uncertain? Give an economic justification for your answer.

Legislature passes proposed law-will increase labor cost : The Governor of Arkansas has asked you (her crack economic advisor) to analyze how employment in trucking and poultry processing will be affected if the legislature passes a proposed law that will increase labor cost in both industries by ten percent..

Making the production process more capital-intensive : Suppose a union that represents some but not all of the employees in an industry is considering a strong push for increased pay for their members during the upcoming contract negotiations. However, they are concerned about the possibility that the co..

Considering removing the monopoly rights : The City Council in Bigtown is considering removing the monopoly rights of Bigtown Cable TV, Inc. Bigtown Cable is arguing that the competition in the cable TV market will be chaotic and result in a loss of jobs. As the staff economist for the City C..

Reduces the cost of computer operated lathes : If skilled machinists with advanced computer training and computer operated lathes are complements in production in high tech manufacturing but computer operated lathes are substitutes in production for machinists without computer training (unskilled..

Payroll tax-employers pay to finance unemployment insurance : Your friend, Sarah Occupy, is complaining, “The one percent is at it again! They want to cut the payroll tax that employers pay to finance unemployment insurance. This will help employers but do nothing to help the workers.” Is Sarah right or wrong? ..

What was the growth rate of GDP per worker : Botswana is one of the few economic success stories in Africa. While still plagued with many problems (e.g. one of the highest rates of AIDS infection in the world), it has managed to transform itself among the poorest countries to a middle income co..

Cost of pollution control differs widely : Suppose an environmental regulation requires all polluters to reduce emissions by 50%, even though the cost of pollution control differs widely from one polluter to another. Why might this be inefficient, using the definition of efficiency developed ..

Pecans or walnuts : Smith likes cashews better than almonds and likes almond better than walnuts. He likes pecans equally as macadamia nuts and prefers macadamia nuts to almonds. Pecans or walnuts?

User Account

All Pages