Suppose That a Firm Uses Only Capital $K$ , and Labor $L$

question 17

Multiple Choice

Suppose that a firm uses only capital, $K$ , and labor, $L$ , in its production process. At the firm's current long-run combination of capital and labor, it uses positive amounts of both inputs and measures the marginal products as $M P _ { K } = 15$ and $M P _ { L } = 10$ . The rental rate of capital is $r = 6$ and the current wage rate for labor is $w = 3$ . The firm:

• A)is currently minimizing total cost in the long run.
• B)could lower cost by increasing the usage of capital and decreasing the usage of labor.
• C)could lower cost by increasing the usage of labor and decreasing the usage of capital.
• D)cannot lower cost without also lowering the level of output.

Explore the effects of substances (drugs) on the nervous system and behavior.

Explain the activation-synthesis hypothesis of dreaming.

Understand the concept of lucid dreaming and its characteristics.

Describe theories and effects of hypnosis, including dissociation and role-playing theories.

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