Balance between automation and labor, Macroeconomics

Assignment Help:

Businesses often decide between using automation and labor in production. An automotive environment may have high fixed costs and low variable costs, and an industry that utilizes manual labor for production will have low fixed costs and high variable costs. In general, how would you describe the balance between the costs of automation, or fixed costs, and the costs of labor, or variable costs? How has technology changed the balance between automation and labor? What type of industry benefits the most from technological innovation? Please provide specific examples.


Related Discussions:- Balance between automation and labor

Which of the following statements is correct, Which of the following statem...

Which of the following statements is true? a. economic profit equals accounting profit minus implicit costs b. the short run is any period of time in which there is at least

What is probability the time between two successive calls, A one-car taxi c...

A one-car taxi company receives an average of 18 calls per day. The receptionist takes down details of the requested journey and relays them to the driver by radio. Each passenger'

International trade, difference between mercantilism and absolute advantage...

difference between mercantilism and absolute advantage

Production possibility curve, PRODUCTION POSSIBILITY CURVE As we have s...

PRODUCTION POSSIBILITY CURVE As we have seen, the essence of economic analysis is the problem of scarcity and choice. We know that limited productive resources compel individua

Central bank, how can a central bank diminish inflation

how can a central bank diminish inflation

How price level rises differ from price rises, How price level rises differ...

How price level rises differ from price rises In macroeconomics, it's common to use term "prices" or "price" as short for price level. Expression "prices rise" must be interpre

Accounting system-example i, ACCOUNTING SYSTEM-EXAMPLE I  Consider a ve...

ACCOUNTING SYSTEM-EXAMPLE I  Consider a very simple economy. It consists of a. A number of households. b. A single productive organization, a 'firm' - say the Jam Corpora

Duesenberry relative income theory of consumption, how does deusenberry rel...

how does deusenberry relative income theory influences inflation

Decay toothbrush and decay fighter toothbrush, The Stop decay company sells...

The Stop decay company sells an electric toothbrush for $25. Its sales have averaged 8,000 units per month over the past year. Recently, its closest competitor, Decay fighter, redu

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd