Multiple Choice
In the specific factors model, which of the following will increase the quantity of labor used in cloth production?
A) a decrease in the price of labor
B) an increase in the price of cloth relative to that of food
C) an equal percentage decrease in the price of food and cloth
D) an equal percentage increase in the price of food and cloth
E) an increase in the price of food relative to that of cloth
Correct Answer:
Verified
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