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Explain how sharply rising energy prices affect labour productivity in an economy.

  1. Explain how sharply rising energy prices affect labour productivity in an economy.
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Sharply rising energy prices leads to decrease in the output per dollar of energy consumed leading to decrease in labor productivity also labor productivity attributed to technological advancement decreases since costlier fuel deters the availability of quality fuel needed with the equipments which enable and enhance the labor output.On the other hand cheaper fuel enhances and facilitate productivity through cheaper availability of high quality fuel which makes the machines operated by labor more efficient and enables labor to increase their output through efficient processes.

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