Multiple Choice
After a firm makes short-run adjustments in its production plan following a wage increase,
A) the marginal product of labor will be higher.
B) the marginal product of labor will be lower.
C) the marginal product of capital will be higher.
D) the marginal product of capital will be lower.
E) (a) and C
F) (a) and (d)
G) (b) and (c)
H) (b) and (d)
Correct Answer:

Verified
Correct Answer:
Verified
Q9: Except for the output level for which
Q10: The production function <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5129/.jpg" alt="The production
Q11: Which of the following are true in
Q12: Long run average cost curves are downward
Q13: Short run average expenditure curves are tangent
Q15: If labor and capital are perfect complements
Q16: Conditional input demand curves always slope down,
Q17: Output supply is more responsive to price
Q18: If the rental rate increases, we know
Q19: If a firm's labor input response to