When comparing countries with big labor supplies like China to countries with relatively lower labor supplies like the United States and Canada, we would expect production in countries like China to be
A) labor intensive because of the relative abundance of labor.
B) labor intensive because of the relatively high expense of labor.
C) capital intensive because of the high value of capital.
D) capital intensive because of the relative scarcity of labor.
E) labor intensive because of traditional production practices.
Correct Answer:
Verified
Q120: The breakeven point for a competitive firm
Q121: The profit-maximizing decision in choosing the optimal
Q122: The scale of a firm increases when
A)only
Q123: An expansion of capital increases fixed costs
Q124: Capital expansion causes the average total cost
Q126: Explain what happens to variable costs when
Q127: If the price of capital rises, the
Q128: Capital expansion can be shown as a
Q129: The long-run average total cost curve is
Q130: Explain what happens to the average total
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents