When numerous but imperfect substitutes exist for a good, the demand for the good will tend to be

Golden Rule of Cost Minimization - to minimize cost, the firm should employ inputs in such a way that the _______________ per dollar spent is equal across all inputs.

Fill in the blank(s) with the appropriate word(s).

Other things remaining the same, which of the following is likely to increase both the wage rate and the number of workers hired in a steel-producing factory?

A) An increase in the opportunity cost of leisure B) A decrease in the opportunity cost of leisure C) The introduction of labor-saving technology in the factory D) The introduction of labor-complementary technology in the factory