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Author Question: Refer to the information provided in Figure 7.6 below to answer the question(s) that follow. Refer ... (Read 49 times)

dollx

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on: Apr 19, 2019

Question 1

Firms have an incentive to substitute labor for capital as the


◦ price of capital increases.
◦ price of capital decreases.
◦ price of labor increases.
◦ marginal product of labor decreases.

Question 2

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









Refer to Figure 7.6. The shoe manufacturer currently produces 50 units of output. If this shoe manufacturer increases labor from 15 to 20, the marginal product of the 20th worker


◦ is zero, as the total number of shoes produced remains at 50.
◦ is 8.5, as capital can be reduced by 8.5 units when the 20th worker is hired.
◦ cannot be determined because output remains constant.
◦ cannot be determined because both capital and labor have been increased.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by dollx on Apr 19, 2019

akpaschal

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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.
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dollx

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Reply #2 on: Apr 19, 2019
Excellent


akpaschal

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Reply #3 on: Apr 19, 2019
Great! Please up vote :D


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