A coffee manufacturer uses both capital and labor resources for production. All other things constant, an increase in the price of capital will:
a. shift the supply of labor curve leftward
b. shift the demand for capital curve rightward.
c. shift the demand for labor curve leftward.
d. shift the demand for labor curve rightward.
d
You might also like to view...
Which of the following is TRUE about product markets?
A) Factors (land, labor, capital, and entrepreneurial ability) flow from firms to households. B) Factors (land, labor, capital, and entrepreneurial ability) flow from households to firms. C) Goods and services flow from firms to households. D) Goods and services flow from households to firms.
If a perfectly competitive firm is operating in long-run equilibrium and market demand suddenly falls, the short-run result will be
a. greater economic profit b. a normal profit c. lower average total cost d. lower average variable cost e. an economic loss
To finance a federal budget deficit, the U.S. Treasury borrows by selling:
a. Treasury bills. b. Treasury notes. c. Treasury bonds. d. All of these.
Which of the following statements is NOT true about marginal utility when total utility is at its maximum point?
A. A rational consumer will not consume additional units beyond this point. B. Marginal utility is decreasing. C. Marginal utility is negative. D. Marginal utility is zero.