Suppose the price of capital and labor remain constant but that the average educational level of workers has increased and therefore, productivity of labor increases. This would lead a firm
A) to adopt a more capital-intensive production technology.
B) to keep its output and production technology unchanged, but to use fewer units of labor.
C) to adopt a more labor-intensive technology.
D) to use only labor to produce the product.
Question 2
Suppose there are economies of scale in the production of a specialized memory chip that is used in manufacturing microwaves. This suggests that the microwave industry is a decreasing-cost industry.
Indicate whether the statement is true or false
Nuclear division at the DNA level
Functional MRI Scans These scans of human brains show localized average increases in neural activity
Proportion of Women and Men in the U.S. Labor Force
A Scatterplot of the Test Scores and Average Grades of 10 Students
Capital’s Share of Income in a Cross-Section of Countries
The decay constant of radon-222 is 0.181 d-1. If a sample of radon initially contains 6.00 × ...