Question
b. The Bureau of Labor Statistics projects that employment of drafters over the next decade will drop by 1.2%, compared to an increase of 2.7%
b. The Bureau of Labor Statistics projects that employment of drafters over the next decade will drop by 1.2%, compared to an increase of 2.7% for architects (https://www.bls.gov/emp/tables/emp-by-detailed-occupation.htm); your company assumes that this will reduce the number of lower-skilled drafters, resulting in a higher productivity (now 3 blueprints per hour instead of 2) and that reduced demand will lower wages slightly (forecast to be $22.10). If the other values remain the same (architect wage and speed, need for 20 blueprints per hour), would the company save money in the creation of the 20 blueprints by hiring four drafters and firing some architects?
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