Principles of Economics - Answer 1 In this as the more expansion of the robots are used in comparison to the labourers, it would lead to the higher robots use and low labours use. As one could see that the robot's production has increased in comparison to the labour, one can see an inverse relationship (Kimbrough, 2017). Principles of Economics - Answer 2 The industrial robots have expanded in the last couple of decades, as due …
Principles of Economics Table of Contents Budget constraint: Optimal income-leisure tradeoff. Wage cut by 20%... Adding the second indifference curve. Income and substitution effects: Opportunity costs and wage decrease: How effective is GDP to be an indicator of economic activity in the light of Covid-19?. Consequentialist perspective about the payments to support Deontological perspective about the payments to supp…
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