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A new technological innovation occurs, and your firm chooses to adopt it. As a result of increased efficiency, five employees are no longer needed and
A new technological innovation occurs, and your firm chooses to adopt it. As a result of increased efficiency, five employees are no longer needed and are laid off by your firm. Is wealth being created or destroyed by your firm's decision? Group of answer choices Created, since the firm has increased profits Destroyed, since the employees may earn lower wages elsewhere. Destroyed, since this leads to higher unemployment Created, both the firm's resources and the labor are being reallocated to higher valued uses
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