Suppose the Production of VCRs Can Be Represented by the Following

question 22

Multiple Choice

Suppose the production of VCRs can be represented by the following production function: ?q = L⁰.⁴ K⁰.⁴.Which of the following statements is (are) TRUE?

• A) The production function has decreasing returns to scale.
• B) The marginal productivity of labor falls as labor increases in the short run.
• C) Capital and labor can be substituted for one another.
• D) All of the above.

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NLRA

The National Labor Relations Act (NLRA) is a foundational statute in United States labor law which guarantees the rights of private sector employees to organize into trade unions, engage in collective bargaining, and take collective action, including strikes.

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