Multiple Choice
Firm A has a higher labor cost-total cost ratio than Firm B.If both firms employ the same type of labor,and the wage rate rises $1,then Firm A's product price will most likely ____________ than Firm B's product price.
A) rise by more
B) fall by more
C) fall by less
D) rise by less
Correct Answer:
Verified
Correct Answer:
Verified
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