Multiple Choice
Suppose that each worker must use only one shovel to dig a trench,and shovels are useless by themselves.In the long run,an increase in the price of shovels will result in
A) fewer shovels being purchased to produce the same number of trenches.
B) more workers being hired to produce the same number of trenches.
C) the firm wishing to produce more trenches.
D) no change in the firm's input mix.
Correct Answer:

Verified
Correct Answer:
Verified
Q109: Suppose the production function is q =
Q110: Suppose the current market wage rate (w)is
Q111: If an isocost line crosses the isoquant
Q112: You have two career options.You can work
Q113: Joey's Lawncutting Service rents office space from
Q115: A production possibilities frontier that is a
Q116: Economies of scale and Increasing Returns to
Q117: If the marginal rate of technical substitution
Q118: When buying a piece of equipment,it is
Q119: If increasing returns to scale are present,the