Suppose the Price of Capital Increases to $11

question 33

Multiple Choice

Suppose the price of capital increases to $11.Which of the following will occur?

• A) The amount of capital used will increase to 6.
• B) The amount of labor used will remain the same.
• C) The level of output will increase to 36.
• D) The amount of labor used will increase to 1 unit.
• E) The level of output will remain the same.

---

Definitions:

Quiz

A test of knowledge, especially a brief, informal test given in educational settings.

Grade Point Average

A numerical calculation representing the average value of the accumulated final grades earned in courses over time.

Letter Grade

A system of evaluating or grading academic performance using letters (A, B, C, etc.).

Course Credits

Units that represent a measure of the educational workload involved in completing a course, which can contribute towards a qualification or degree.