Multiple Choice
Suppose MPL = 0.5 ∗ (q/L) and MPK = 0.5 ∗ (q/K) .In the long run,the firm will hire equal amounts of capital and labor
A) all of the time.
B) only when w = r.
C) only when w = 0.5 ∗ r.
D) at no point in time.
Correct Answer:
Verified
Correct Answer:
Verified
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