If the Price of Labor Increases,in Order to Minimize the Costs

question 91

Multiple Choice

If the price of labor increases,in order to minimize the costs of producing a given level of output,the firm manager should use:

• A) less of labor and more of capital.
• B) less of labor and less of capital.
• C) more of labor and more of capital.
• D) more of labor and less of capital.

---

Definitions:

Internal Environment

Refers to the conditions and processes within an organism or organization that contribute to its functioning.

Appropriate Tasks

Activities or duties that are suitable or fitting for a specific person, situation, or environment.

Anterior

Before or in front of.

Pathophysiology

The study of how normal physiological processes are affected by disease, leading to the functional changes associated with health conditions.