If Skilled Labor Is Three Times the Cost of Unskilled

question 60

Multiple Choice

If skilled labor is three times the cost of unskilled labor, a profit-maximizing firm will vary the quantity of each type of labor until the

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

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Definitions:

Pure Land Buddhism

A branch of Buddhism focused on the devotion to Amitabha Buddha, aiming to achieve rebirth in his Pure Land, a place of bliss and enlightenment.

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A practitioner of the art of calligraphy during the Edo period in Japan (1603-1868), known for their skilled brushwork and composition.

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