What is the firm's long run optimal employment level?
A) 0 workers
B) 4 workers
C) 5 workers
D) 10 workers
E) 20 workers
Correct Answer:
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Q4: When the price of labor increases,
A) a
Q5: Suppose the firm wants to manufacture an
Q6: Suppose the price of capital increases to
Q7: If two inputs are gross substitutes,their substitution
Q8: Suppose a firm uses three inputs in
Q10: Suppose the own wage elasticity of labor
Q11: Suppose a 2% increase in wages decreases
Q12: If capital and labor are gross complements
Q13: A result of the Le Châtelier Brown
Q14: Suppose the substitution elasticity between capital and
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