Assuming that labor is the only variable input, if society values a good ________ it costs firms to hire the workers to produce that good, the good ________ be produced.
A) equal to what; will not
B) less than; will
C) more than; will not
D) less than; will not

Question

Quizplus · Accepted Answer

If society values a good less than it costs firms to hire the workers to produce that good, firms will not produce it because it would not be profitable to do so.

Assuming That Labor Is the Only Variable Input, If Society