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Author Question: Country A is labor abundant relative to country B if it has a larger labor force than B's. ... (Read 100 times)

corkyiscool3328

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on: Jun 30, 2018
Country A is labor abundant relative to country B if it has a larger labor force than B's.
 
  Indicate whether the statement is true or false

Question 2

An imperfectly competitive firm has the following total cost curve: C = 100 + 4Q. What is marginal cost equal to when Q = 10?
 
  What will be an ideal response?


EAN94

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Reply #1 on: Jun 30, 2018
Answer to Question 1

FALSE
Explanation: The ratio of labor to capital determines abundance.

Answer to Question 2

MC = 4 for any Q


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