Multiple Choice
If labor costs twice as much as capital (per unit) ,then,in the long run,
A) labor will be half as productive as capital.
B) labor's marginal product will be twice that of capital.
C) the firm will hire twice as much labor as capital.
D) the firm will hire less labor and more capital.
Correct Answer:
Verified
Correct Answer:
Verified
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Q19: For two substitutes in production,if the scale
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Q21: If the firm hires to a point
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