Two Inputs,labor and Capital,are Considered Complements If

question 14

Multiple Choice

Two inputs,labor and capital,are considered complements if:

• A)a fall in the price of labor leads to a fall in the price of capital.
• B)they can replace each other in the production process.
• C)a fall in the price of labor leads to an increase in the price of capital.
• D)increasing the quantity of labor increases the marginal product of capital.

Understand the structural importance of collagen in animals and its role in the extracellular matrix.

Identify the challenges sessile animals face, including environmental and reproductive limitations.

Recognize the genetic similarity among bilateral animals and the role of specific gene families in their evolution.

Trace the evolutionary timeline of land animal origins and comprehend the time scale of animal evolution.

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Definitions:

Short Run

A period in economics during which at least one factor of production is fixed, limiting the adjustment processes of the economy.

Production Function

A mathematical representation of the relationship between inputs used in production and the output generated.

Returns to Scale

The rate at which output increases as inputs are proportionally increased in the production process.

Production Function

A Production Function describes the relationship between inputs used in production and the output resulting from their use, showing how output changes as inputs change.