Suppose labor and capitals are both used to produce output. In the long run, if the wage rate rises while the rental rate on capital remains unchanged,
A. market forces will come into play to bring the prices back to their earlier relationship.
B. the process will become more capital intensive.
C. the marginal product of capital will rise and the marginal product of labor will fall.
D. the process will become more labor intensive.
Answer: B
Economics
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In the above figure, the profit-maximizing output for this single-price monopoly is ________ units and the price is ________
A) 200; $10 B) 300; $20 C) 500; $50 D) 200; $30 E) 300; $30
Economics
As a result of the case of Dartmouth College v Woodward (1819), the Federal Trade Commission was formed years later in 1914
Indicate whether the statement is true or false
Economics