The massive substitution of capital for labor in US agriculture since World War II is due to:
A) electrification of rural areas
B) relative prices
C) marginal decision making
D) an overreliance on technology in production agriculture
Correct Answer:
Verified
Q27: An isoquant shape is derived from:
A) the
Q28: The slope of the isoquant is:
A) the
Q29: In equilibrium:
A) the slope of the isoquant
Q30: If the price of the input on
Q31: A business firm will choose which outputs
Q33: To find the profit-maximizing input combination, a
Q34: In the past several years, US agricultural
Q35: Tractors and plows are:
A) complements in production
B)
Q36: Nuts and bolts are:
A) complements in production
B)
Q37: Labor and agrochemicals are:
A) complements in production
B)
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