Author Question: Use the information provided in Table 7.4 below to answer the question(s) that follow. Refer to ... (Read 154 times)

jc611 · **on:** Apr 19, 2019

Question 1

Firms in an economy with high capital costs have an incentive to use more ________ techniques.

◦ labor-intensive
◦ capital-intensive
◦ labor-saving
◦ capital-dependent

Question 2

Use the information provided in Table 7.4 below to answer the question(s) that follow.

Refer to Table 7.4. Which technology is the most labor intensive?

◦ A
◦ B
◦ C
◦ D

recede · **Reply #1 on:** Apr 19, 2019

Answer 1

labor-intensive

Answer 2

A

jc611 · **Reply #2 on:** Apr 19, 2019

TY

recede · **Reply #3 on:** Apr 19, 2019

You're welcome

WWatsford · **Reply #4 on:** Apr 19, 2019

Question 1

Use the information provided in Table 7.4 below to answer the question(s) that follow.

Refer to Table 7.4. Which technology is the most capital intensive?

◦ A
◦ B
◦ C
◦ D

Question 2

Use the information provided in Table 7.4 below to answer the question(s) that follow.

Refer to Table 7.4. If the hourly price of capital is $20 and the hourly wage rate is $14, which production technology should be selected?

◦ A
◦ B
◦ C
◦ D

ngr69 · **Reply #5 on:** Apr 19, 2019

Answer 1

D

Answer 2

C