This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Assume that the price of labor and capital have remained the same, but that the average educational ... (Read 136 times)

clippers!

  • Hero Member
  • *****
  • Posts: 828
on: Apr 19, 2019

Question 1

Refer to the information provided in Figure 7.6 below to answer the question(s) that follow. 









Refer to Figure 7.6. If the price of capital is $20 and the price of labor is $10, the optimal product technique is


◦ A.
◦ B.
◦ C.
◦ D.

Question 2

Assume that the price of labor and capital have remained the same, but that the average educational level of workers has increased and therefore the productivity of labor has increased. This would lead a firm to


◦ use a more capital-intensive production technology.
◦ use a more labor-intensive technology.
◦ not change its production technology, but to produce fewer units of output.
◦ use only labor to produce the product.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by clippers! on Apr 19, 2019

CAPTAINAMERICA

  • Sr. Member
  • ****
  • Posts: 325
Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 25% of students answer this correctly


clippers!

  • Hero Member
  • *****
  • Posts: 828
Reply #2 on: Apr 19, 2019
Excellent


CAPTAINAMERICA

  • Sr. Member
  • ****
  • Posts: 325
Reply #3 on: Apr 19, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

It is believed that humans initially contracted crabs from gorillas about 3 million years ago from either sleeping in gorilla nests or eating the apes.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

Patients who cannot swallow may receive nutrition via a parenteral route—usually, a catheter is inserted through the chest into a large vein going into the heart.

Examples of Impacts Associated with Different Amounts of Global Average Temperat Examples of Impacts Associated with Different Amounts of Global Average Temperat
Using educational materials, the medical assistant discusses lifestyle changes with a diabetic ... Using educational materials, the medical assistant discusses lifestyle changes with a diabetic ...
Who Gets Executed? Gender Bias in Capital Punishment Who Gets Executed? Gender Bias in Capital Punishment
The average weight gain between Thanksgiving and New Year's Day is about a pound The average weight gain between Thanksgiving and New Year's Day is about a pound
Real Price of Oil, 1861–2010 Real Price of Oil, 1861–2010
Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ... Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ...
Video: Interview with an Anorexic Woman (Part 1 of 2)

For a complete list of videos, visit our video library