If a Firm Is Using Labour and Capital Such That

question 116

Multiple Choice

If a firm is using labour and capital such that the MP of labour is two times the MP of capital,and the price of labour is four times the price of capital,the firm should in order to minimize its costs of producing its output.

• A)decrease capital and increase labour
• B)not alter its present factor mix
• C)decrease both capital and labour
• D)increase capital and decrease labour
• E)increase both labour and capital

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Definitions:

Becoming A Narcissist

The process of developing narcissistic traits, characterized by excessive self-focus, lack of empathy, and an inflated sense of self-importance.

Self-Absorbed

Excessively focused on oneself and one's own needs, often ignoring the needs and feelings of others.

Self-Esteem

The sense of one's own value or worth as a person, reflecting a judgement of oneself.

Highest Point

The location or position that is at the greatest height compared to the surrounding areas or elements.