If the price of labor increases by 20 percent, but all other input prices remain the same,

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If the price of labor increases by 20 percent, but all other input prices remain the same, would the long-run total cost at a particular output level go up by more than 20 percent, less than 20 percent, or exactly 20 percent? If the prices of all inputs went up by 20 percent, would long-run total cost go up by more than 20 percent, less than 20 percent, or exactly 20 percent?
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Microeconomics

ISBN: 978-0073375854

2nd edition

Authors: Douglas Bernheim, Michael Whinston

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