If labor and capital are substitute resources in production,an increase in the price of capital will
A) increase the wage rate and decrease the number of workers hired.
B) decrease the wage rate and increase the number of workers hired.
C) decrease the wage rate and decrease the number of workers hired.
D) increase the wage rate and increase the number of workers hireD.
Correct Answer:
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Q17: A rise in the wage rate would
Q18: You can find the MRP by multiplying
Q19: In general,the MRP _ as output increases.
A)declines
B)rises
C)stays
Q20: The demand for a resource rises as
A)its
Q21: If a large decrease in rent leads
Q23: An increase in the demand for steel
Q24: Suppose that land and labor are substitute
Q25: As output rises,
A)marginal revenue product declines.
B)marginal revenue
Q26: A decline in the wage rate would
A)raise
Q27: Which of the following will not cause
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