Assuming that w and r are both positive, if the long-run expansion path is horizontal, then

A) = 0.
B) MRTS is a function of capital only.
C) w = r.
D) All of the above.


B

Economics

You might also like to view...

Roughly 60 percent of women participate in the labor force today

a. True b. False Indicate whether the statement is true or false

Economics

The demand for land is:

A. perfectly elastic. B. perfectly inelastic. C. upsloping. D. downsloping.

Economics

A change in which of the following variables will have no direct effect on the level of domestic demand?

A) domestic income B) the real exchange rate C) government spending D) the interest rate (r) E) none of the above

Economics

Why does the unemployment rate go down as more people become discouraged about the economy?

What will be an ideal response?

Economics