Assume That Capital and Labor Are Substitutes in Production

question 114

True/False

Assume that capital and labor are substitutes in production.The output effect of an increase in the price of capital decreases the demand for labor.

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Definitions:

Printed

The output of a document, image, or data that has been transferred from a digital form onto a physical medium like paper.

Calendar

A system for organizing days based on periods such as weeks, months, and years, used for planning events and activities.

Recurrence

Recurrence refers to the repetition of certain actions or events at regular intervals or under specific conditions.

Regular Intervals

Occurrences or events happening at consistent, predictable times or distances apart.