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MrGrimey MrGrimey
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6 years ago
At the XYZ Co., a unit of capital costs three times as much as a unit of labor. If the isoquants are convex, and the firm does not change its input mix in the long run, we can conclude that
A) MPK = 3 ∗ MPL .
B) the firm will not hire any capital.
C) the firm will hire 3 times as much labor as capital.
D) the firm will hire 3 times as much capital as labor.
Textbook 
Microeconomics: Theory and Applications with Calculus

Microeconomics: Theory and Applications with Calculus


Edition: 4th
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RumkoRumko
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6 years ago
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