At the XYZ Co, a unit of capital costs three times as much as a unit of labor. If the isoquants are convex, and the firm does not change its input mix in the long run, we can conclude that
A) MPK = 3 ? MPL .
B) the firm will not hire any capital.
C) the firm will hire 3 times as much labor as capital.
D) the firm will hire 3 times as much capital as labor.
A
Economics
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Both the ____ and the ______ issue bank charters.
Fill in the blank(s) with the appropriate word(s).
Economics
In economics, the concept that individuals are motivated by self-interest and respond predictably to opportunities for gain is known as
A) rational self-interest.
B) altruism.
C) sufficiency.
D) empiricism.
Economics