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I am very confused, if someone can please help for 1 and 2 that would be amazing. Thank you so much. Please have readable writing
I am very confused, if someone can please help for 1 and 2 that would be amazing. Thank you so much. Please have readable writing :)
In 1997, there were about 17 million manufacturing workers in the United States, 20 years later that number had fallen to 12.8 million workers. Many people interpret this decline in labor employed in manufacturing to mean that the total amount of manufactured output in the United States fell during this time period. However, this is not the case, between 1997 and 2007, the U.S. output of manufactured products increased by 43% (the capital-labor ratio also rose during this period). Using what you learned about isoquants and isocost lines in this unit, answer the following questions: Question 1 What would cause the fall in the amount of labor employed in manufacturing? Explain your answer. Edit View Insert Format Tools Table Paragraph B I U 12pt p Question 2 Edit View Insert Format Tools Table 12pt Paragraph AVT V Even though the number of workers in manufacturing was falling, how would we explain the increase in the overall output of the manufacturing sector? B I U O words 2 TV > 5 pts 5 pts In 1997, there were about 17 million manufacturing workers in the United States, 20 years later that number had fallen to 12.8 million workers. Many people interpret this decline in labor employed in manufacturing to mean that the total amount of manufactured output in the United States fell during this time period. However, this is not the case, between 1997 and 2007, the U.S. output of manufactured products increased by 43% (the capital-labor ratio also rose during this period). Using what you learned about isoquants and isocost lines in this unit, answer the following questions: Question 1 What would cause the fall in the amount of labor employed in manufacturing? Explain your answer. Edit View Insert Format Tools Table Paragraph B I U 12pt p Question 2 Edit View Insert Format Tools Table 12pt Paragraph AVT V Even though the number of workers in manufacturing was falling, how would we explain the increase in the overall output of the manufacturing sector? B I U O words 2 TV > 5 pts 5 ptsStep by Step Solution
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