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Home Q & A Board Other Fields Homework Help Business Economics
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apadong apadong
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7 years ago
Labor and capital are substitutes in production.  If labor becomes more educated, then, ceteris paribus,
A) output increases as does the price of the output.
B) labor is substituted for capital.
C) output decreases as does the rental rate.
D) capital is substituted for labor.
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goldlilysgoldlilys
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7 years ago
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apadong Author
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#2
7 years ago
Update: Correct!
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