Author Question: In the long run, the quantity of capital available to a firm is fixed. a. True b. False Indicate ... (Read 42 times)

Frost2351 · **on:** Jun 30, 2018

In the long run, the quantity of capital available to a firm is fixed.
a. True
b. False
Indicate whether the statement is true or false

Question 2

The marginal product of labor can be defined as:
a. the change in profit divided by the change in labor, other factors of production held constant.
b. the change in total output provided by a one unit increase in labor employed, other factors of production held constant.
c. the total output divided by the total labor utilized.
d. the change in labor utilized divided by the change in total output, other factors of production held constant.