Alice runs a shoemaking factory that utilizes both labor and capital to make shoes. Which of the

Question:

Alice runs a shoemaking factory that utilizes both labor and capital to make shoes. Which of the following would shift the factory’s demand for capital? You can select one or more answers from the choices shown.

a. Many consumers decide to walk barefoot all the time.

b. New shoemaking machines are twice as efficient as older machines.

c. The wages that the factory has to pay its workers rise due to an economy-wide labor shortage. 

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Microeconomics Principles, Problems and Policies

ISBN: 978-1259450242

20th edition

Authors: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn

Question Posted: