All Else Constant,the Choice of Whether to Use a Labor-Intensive

question 33

Multiple Choice

All else constant,the choice of whether to use a labor-intensive production process or a capital-intensive one is depends on:

• A)the absolute prices of capital and labor.
• B)the relative prices of capital labor.
• C)the type of market in which the firm operates.
• D)whether the economy is growing or shrinking.

---

Definitions:

Probably True

A statement or belief that is likely to be accurate or correct, based on the available evidence.

Trustworthy Advice

Reliable and credible guidance that can be depended upon for making decisions.

Experienced

Having knowledge or skill in a particular area as a result of direct involvement or participation.

Roommate's Advice

Guidance or recommendations provided by one's cohabitant, often based on personal experience or wisdom.