Multiple Choice
Which of the following factors is most important as a source of sustained growth in material living standards?
A) population increase
B) changing relative factor prices
C) decrease in cost of capital
D) technological improvement
E) capital-labour substitution
Correct Answer:

Verified
Correct Answer:
Verified
Q7: For a firm with only two inputs,capital
Q8: Consider the long-run average cost curve for
Q9: Consider a firm that uses only labour
Q10: TABLE 8-1<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5441/.jpg" alt="TABLE 8-1
Q11: Assume a firm is using 6 units
Q13: Assume a firm is using 10 units
Q14: Suppose that capital costs $10 per unit
Q15: Refer to Figure 8-6.As this firm is
Q16: When there is no other way of
Q17: TABLE 8-1<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5441/.jpg" alt="TABLE 8-1