All Else Constant,an Increase in the Price of Labor Would

question 74

Multiple Choice

All else constant,an increase in the price of labor would cause the total amount of output that can be produced with a fixed amount of spending to ________.This would result in a movement to a ________ isoquant.

• A)increase; lower
• B)increase; higher
• C)decrease; lower
• D)decrease; higher

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Definitions:

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