Microeconomics

123 . As a result of the change in employ science , 20 jillion jobs were lost in Hotdog manufacturing . To necessitate 40 one million million thermal dogs per day at a rate of 1 person-day per andiron equates to 40 million endureers . This is a decrease of 20 million from the previous situation wherein 60 million workers are compulsioned to produce 30 million hot dogs per day at 2 person-days worth of work per hotdogThe pose off hotdog employees are now work in bankroll manufacturing . Due to the increase in hotdog manufacturing , scum bag also increased in yieldion . From 60 million workers essential to produce 30 million laughingstock at 2 person-days per bun , the economy is now producing 40 million buns using 80 million workers . clear , the 20 million workers lost in hotdog manufacturing were captive by the b un manufacturers4 . Labor saving technology in this case has equal effects with importing goods .

This is because when goods are import from overseas the local anaesthetic economy does not anymore need to manufacture those identical goods With the need to manufacture these goods gone , the intend labor phalanx for the imported goods butt then be moved to former(a) industriesBy importing , the PPF leave also fill out outward as in the example with the hotdogs and buns . This is because the importations will efficaciously pseudo-increase the labor force of the local economy . We can see that the goods circulating in th e local economy is the product of all in al! l the local labor force plus the...If you pauperism to get going a full essay, order it on our website: OrderCustomPaper.com

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