If Labor Costs Twice as Much as Capital (Per Unit),then,in

question 23

Multiple Choice

If labor costs twice as much as capital (per unit) ,then,in the long run,

• A) labor will be half as productive as capital.
• B) labor's marginal product will be twice that of capital.
• C) the firm will hire twice as much labor as capital.
• D) the firm will hire less labor and more capital.

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Definitions:

Cumulative Percent

The percentage that represents the sum of its own and all previous categories in a frequency distribution.

Arrests

A term signifying the act of detaining someone legally as a suspect in a criminal activity.

Cumulative Percent

A measure that calculates the percentage total up to a specific point in a series of data, showing the accumulation of a quantity over time.

Frequency Distribution

A summary of data showing the number of observations (frequency) for each value or range of values.