Multiple Choice
If a firm's production function is Leontief and the wage rate goes up,the:
A) firm must use more labor in order to minimize the cost of producing a given level of output.
B) firm must use more capital in order to minimize the cost of producing a given level of output.
C) firm must use less labor in order to minimize the cost of producing a given level of output.
D) cost minimizing combination of capital and labor does not change.
Correct Answer:

Verified
Correct Answer:
Verified
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