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thanhha78 thanhha78
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6 years ago
The input-substitution effect of an increase in the wage comes about because higher wages
A) increase production costs, and final good prices will rise, increasing the quantity demanded of the product.
B) make labor more expensive as an input, leading firms to switch to other inputs.
C) make labor less expensive as an input, leading firms to switch to labor as an input.
D) increase production costs, and final good prices will rise, reducing the quantity demanded of the product.
Textbook 
Survey of Economics: Principles, Applications and Tools

Survey of Economics: Principles, Applications and Tools


Edition: 6th
Authors:
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trumpetsoflifetrumpetsoflife
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6 years ago
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thanhha78 Author
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6 years ago
Good timing, thanks!
jakechambo3
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Yesterday
Thanks for your help!!
annakc
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2 hours ago
Just got PERFECT on my quiz
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