In the above figure, Graph D with units of capital on the vertical axis and units of labor on the horizontal axis implies that
A) the marginal product of labor is increasing as more labor is employed.
B) the marginal product of labor is decreasing as more labor is employed.
C) the capital and labor are perfect substitutes.
D) capital and labor have to be employed in fixed proportions.
A
Economics
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A tax on candy will be paid by ______
A. only buyers if the demand for candy is inelastic B. only sellers if the supply for candy is inelastic C. buyers and sellers if the demand for candy is elastic D. only buyers if the supply of candy is elastic
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When both internal and external costs for using a scarce resource are included, then there is
A) an increase in the production of the good. B) a negative externality. C) an increase in the price of the good. D) a positive externality.
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