If technology is held constant, an increase in capital concurrent with a decrease in labor input causes output to:

Name: If technology is held constant, an increase in capital concurrent with a decrease in labor input causes output to:
Brand: Quizplus
Rating: 5.0 (50 reviews)

Question

Quizplus · Accepted Answer

An increase in capital can lead to higher output, but a decrease in labor input can reduce output. The net effect on output depends on the relative changes in capital and labor, so output could rise, fall, or stay the same.

If Technology Is Held Constant, an Increase in Capital Concurrent