Multiple Choice
In the specific factors model,which of the following will increase the quantity of labor used in cloth production?
A) an increase in the price of cloth relative to that of food
B) a decrease in the price of labor
C) an equal percentage decrease in the price of food and cloth
D) an increase in the price of food relative to that of cloth
E) an equal percentage increase in the price of food and cloth
Correct Answer:
Verified
Correct Answer:
Verified
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