Increasing the stock of capital while holding the labor force constant will ________ output at a(n) ________ rate.
A. increase; increasing
B. increase; decreasing
C. decrease; increasing
D. decrease; decreasing
Answer: B
You might also like to view...
Differentiate between taste-based discrimination and statistical discrimination
What will be an ideal response?
If the value of marginal product of the last worker hired is $24 and the wage rate is $25, then
A) more workers should be hired. B) the worker should be fired. C) the firm has hired the profit maximizing number of workers. D) the firm is earning $1 of profit from this worker.
Which of the following about price discrimination is true?
a. A price-discriminating seller will charge consumers with an elastic demand a lower price than consumers with an inelastic demand. b. A firm must face a horizontal demand curve for its product in order to engage in effective price discrimination in a market. c. Price discrimination always harms consumers and helps sellers in the short run but in the long run, consumers benefit at the expense of sellers. d. A seller must have a monopoly in order to gain from price discrimination.
If a country's domestic price of a good is lower than the world price, then that country has a comparative advantage in producing that good
a. True b. False Indicate whether the statement is true or false