If the price of labor decreases in order to minimize the, Ask an Expert

Economics

If the price of labor decreases, in order to minimize the costs of producing a given level of output, the firm manager should use:

1. Less of labor and less of capital

2. Less of labor and more of capital

3. More of labor and less of capital

4. More of labor and more of capital

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91224414

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question in the early 1990s mit economist lester thurow

Question: In the early 1990s, MIT economist Lester Thurow wrote that of the three major powers in the world economy in the twenty-first century, Europe would be the leader. However, its growth rate fell far behind the US ...

Question consider a perfectly competitive constant-cost

Question: Consider a perfectly competitive, constant-cost industry. (a) Draw the long run market diagram with both the short run and long run supply curves. Explain the short run and long run producer surplus as found in ...

Question describe how might the three trends mentioned in

Question: Describe how might the three trends mentioned in Article (WSJ) Burberry, Richemont Sales Violin in Hong Kong, Paris, and actions by the IMF of organization in Article (WSJ) IMF Cuts 2016 Global Economic Growth ...

Question explain the difference in the distribution

Question: Explain the difference in the distribution mechanism for goods and services in the market and command systems. Discuss the implications of this difference in terms of efficiency. The response must be typed, sin ...

Question ge marine systems is planning to supply a japanese

Question: GE Marine Systems is planning to supply a Japanese shipbuilder with aero-derivative gasturbines to power 11 DD-class destroyers for the Japanese Self-Defense Force. The buyercan pay the total contract price of ...

Question draw the representative firmmarket graph of a

Question: Draw the representative firm/market graph of a perfectly competitive market in long-run equilibrium. Be sure to include and label all necessary curves. (a) Suppose the market demand curve shifts outwards, descr ...

Question a suppose jean splicer an investor buys 500000 of

Question: A) Suppose Jean Splicer, an investor, buys $500,000 of shares of stock in a diversified bundle of Bio-tech firms and exactly one year later sells those shares for $530,000. Assume the value of the CPI at the da ...

Question does money has opportunity costs and if so why

Question: Does money has opportunity costs? And if so why still people hold money?How can we determine monetary demand in respect to income? The response must be typed, single spaced, must be in times new roman font (siz ...

Question qrs company pays its executives a higher annual

Question: QRS Company pays its executives a higher annual fixed base pay than TUV Company, but TUV makes a higher amount of its executives' compensation dependent on the performance of its stock. Assuming that their exec ...

Question the dalai lama is an inspirational figure to

Question: The Dalai Lama is an inspirational figure to millions who incur substantial travel and time costs to attend his lectures and absorb his wisdom. When he won the Nobel Peace Prize in 1989, he gave most of the mon ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Microeconomics Expert