If a firm uses only capital and labor as inputs, then what should the firm do at a given rate of production if the marginal physical product of labor per last dollar spent is lower than the marginal physical product of capital per last dollar spent
A) The firm should increase both the quantity of capital and the quantity of labor.
B) The firm should decrease both the quantity of capital and the quantity of labor.
C) The firm should increase the quantity of capital and reduce the quantity of labor.
D) The firm should decrease the quantity of capital and increase the quantity of labor.
C
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Why have poverty rates fallen for the elderly since 1960?
What will be an ideal response?
The external debt can place a continuing burden on the United States by reducing consumption in the United States
Indicate whether the statement is true or false
In 2011, what percentage of U.S. families had income levels below $75,000?
a. 20 percent b. 40 percent c. 60 percent d. 80 percent
All of the following are reasons that trade between nations is beneficial EXCEPT
A. gains from trade. B. protection of domestic industries. C. gains from specialization. D. exchange of ideas.