More complementary resources would tend to
A. raise the productivity and the marginal revenue product of labor.
B. lower the productivity and the marginal revenue product of labor.
C. raise the productivity of labor but lower its marginal revenue product.
D. lower the productivity of labor but raise its marginal revenue product.
A. raise the productivity and the marginal revenue product of labor.
You might also like to view...
Suppose three neighbors must vote on the installation of a traffic light that costs $210. The cost of the light will shared by all three
Voter A values the light at $50; voter B values the light at $50; and voter C (who drives the most) values the light at $200. If the voting rule is that the majority wins, does the light get purchased? Is it efficient to purchase the light?
The demand curve for labor is always positively sloped
a. True b. False Indicate whether the statement is true or false
Why is deflation such a problem for consumption and investment?
A. It increases the rate of both. B. It causes firms and households to spend more. C. It slows both. D. It slows investment while simultaneously increases consumption.
The total cost of production is determined by adding the costs of which of the following?
A. Labor, capital, land, intermediate inputs, and business know-how B. Labor, capital, land, and revenue C. Labor, capital, revenue, and marginal product D. Business know-how, capital, and land