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Teaching Economics

In the News

How robots are taking over warehouse work

Graham Watson

24th April 2024

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Here is an article that highlights innovation in retail, with the increased automation highlighting that capital and labour are substitutes in some senses, but also complements in others, in that more highly-skilled workers are required to programme and maintain them.

From the firm's perspective, investing in automation incurs higher fixed costs but may drive down variable costs, and this has implications for a firm's profit-maximising output, and, of course, it's profit levels.

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Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to tutor2u, reads voraciously and is interested in all aspects of Teaching and Learning.

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