Question: IF the wage goes up, competitive firms will continue using the same ratio of capital to labor if Multiple choice question. output decreases. capital and
IF the wage goes up, competitive firms will continue using the same ratio of capital to labor if Multiple choice question. output decreases. capital and labor are perfect complements. there is no scale effect. both of them are "normal" inputs
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
