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.

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