Question
Table: Production and Prices in Two Industries Marginal Product of Labor in Agriculture ( MPL a ) Marginal Product of Labor in Manufacturing ( MPL
Table: Production and Prices in Two Industries
Marginal Product of Labor in Agriculture (MPLa) | Marginal Product of Labor in Manufacturing (MPLm) | Price of Agricultural Good (Pa) | Price of Manufactured Good (Pm) |
| 5 | 3 | $10 | $10 |
Using the information from the table, we can expect which of the following to happen in the economy?
Group of answer choices
Labor will migrate from the agriculture to the manufacturing sector.
Labor will migrate from the manufacturing to the agriculture sector.
The marginal product of labor in the agriculture sector will increase.
The marginal product of labor in the manufacturing sector will decrease.
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Statistics The Art And Science Of Learning From Data
Authors: Alan Agresti, Christine A. Franklin
3rd Edition
9780321849281, 321755944, 321849280, 978-0321755940
