An Increase in the Wage Rate Will Have a Greater

question 11

Multiple Choice

An increase in the wage rate will have a greater effect on average costs

• A)the larger the proportion labor costs are of total costs and the easier it is to substitute capital for labor.
• B)the larger the proportion labor costs are of total costs and the harder it is to substitute capital for labor.
• C)the greater is the diminishing marginal product of labor.
• D)the greater are returns to scale.

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Definitions:

Flowering Plants

Flowering plants, or angiosperms, are plants that produce flowers as their reproductive structures, encompassing a vast diversity of species.

Stamens

The male fertilizing organ of a flower, typically consisting of a pollen-containing anther and a filament.

Vegetative Structure

Parts of a plant (such as roots, stems, and leaves) that are involved in growth and development rather than reproduction.

Male Portion

The part of a plant or animal responsible for producing male gametes, such as pollen in plants or sperm in animals.