Multiple Choice
Output is produced with capital and labor.If the price of capital goes up,
A) the price of output will fall.
B) output will be increased.
C) the firm will use more labor per unit of output produced.
D) None of the above will result when the price of capital goes up.
Correct Answer:
Verified
Correct Answer:
Verified
Q8: Other things equal,the own-wage elasticity of demand
Q9: The own-wage elasticity of demand measures<br>A) change
Q10: If two inputs are gross complements,the cross-wage
Q11: Own-wage elasticities of demand are<br>A) always positive.<br>B)
Q12: According to empirical estimates,when wages are increased
Q14: Own-wage elasticity of labor demand tends to<br>A)
Q15: An increase in the minimum wage will
Q16: If teenagers and adults are substitutes in
Q17: Cross wage elasticities of demand are<br>A) always
Q18: Empirical estimates of cross-wage elasticities show that<br>A)