If Skilled Labor Costs Three Times as Much as Unskilled

question 45

Multiple Choice

If skilled labor costs three times as much as unskilled labor, a profit-maximizing firm will vary the quantity of each type of labor used until the

• A) amount of unskilled labor used is three times the quantity of skilled labor used.
• B) amount of unskilled labor used is one-third the quantity of skilled labor used.
• C) marginal product of skilled labor is one-third that of unskilled labor.
• D) marginal product of skilled labor is three times as great as that of unskilled labor.

---

Definitions:

HR Department

The department within an organization responsible for managing human resources, including recruitment, training, employee relations, and benefits administration.

Simulation

The technique of creating a model of a real-world situation or system to study its operation and explore outcomes.

Computer-based Training

Educational and training programs delivered through computers, utilizing software, internet resources, or multimedia for instructional content.

Information Technology

The use of computers and software to manage information, including the processing, storing, and dissemination of data.