If a Firm's Production Function Is Leontief and the Price

question 85

Multiple Choice

If a firm's production function is Leontief and the price of capital goes down,the:

• A) firm must use less labor in order to minimize the cost of producing a given level of output.
• B) firm must use more capital in order to minimize the cost of producing a given level of output.
• C) firm must use less capital in order to minimize the cost of producing a given level of output.
• D) cost-minimizing combination of capital and labor does not change.

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