Tackle the Test: Multiple-Choice Questions

  1. Question

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    An automobile factory employs either assembly line workers or robotic arms to produce automobile engines. In this case, labor and capital are considered
  2. Question

    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
    If an increase in the amount of capital employed by a firm leads to an increase in the marginal product of labor, labor and capital are considered
  3. Question

    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
    If the marginal product of labor per dollar is greater than the marginal product of capital per dollar, which of the following is true? The firm should
  4. Question

    i8pzBJtwm2L+uIBhqeJC4wHj3dnVPjy92suWuWQGl6ZL1liyP51EB+rEtP/mhT3XP3KaPboprNDq+vUVxmIAXF3649aTs0h8nd0QYbX5SwEFbaygjTey0gLibechRkfNr77G2R5TrOB43OAeBnWFgVq54ZKg04mTEp/hLNwA/K6ikK/dJfEBeK8DeXw2+HpDpaMW2AINsoMAOqx66P73KqHCUks05M7Df3HSSFQ1Wz8Sa+YyLWTt289sVsRJ8JrbqSeq65wfac/rzpyHU2uKY0TpRdIXR5E+SLw/30JJVGnDxIfGiheG0EDD1Z1ID9ZgBtyRNucDhHie1dGcmQnKw1oOc/ODX1JRNY6YvYl55yI7oqaN8K4/A3T24xeRv15LVWAEfOfta5H0LNm2hTDWledXeXdRy0I72v/Cjs9wsHVs6V2yjlWxSZ4SBUFeE4iZ909cPhPZNpM0ZuIxetp9JogBmFuS6PPyJszT8brhEQWEeDbAXFXiwsjvLC1lVhiF7q1nxbWLPrc1TgMl64tJ8PUEe3uJsgnSyGCgjnRk88EzFPQRdjNQE64Ukgq8FmV66AAwSEhiJoj0p8S+aZCOyk967Bid3YoavanAqUg6UsUcQ+M/hcQN9k+ZzYV74YUpde0mr4TAQ+6mwxDw+b0+9rNfG9398P9zuzRCw7bX7oy6yJGqm9/Wi7YuKgsGPVkTuEMB73y7OoQ+6QomPIEGZRfI7gs6Zo8nveoaUK81T/pcYRbG7xzwyMXN5f0H/E0N6ulUKD1S1hhFk5SMRe+QuubN/bQyUlUMue6351oQ9cGOyyqdg0kTLuDbzHpD21dXpjmxqgbZeipnpB9sLVfuprM1WExjyklbZ8QQ7chQ/tLFXmz4YWd572I3u2qtCftGvSBll9kKeRJpFDe01PKp0sPKPYVwbiyELYyTk+0EFzOfc/99EaNqv8CX7wU8cSSJSoAJISTY9KDhAP8YySO2mTb7iwqb82jdhkjWBlNQc/jYXIVH1QQSH/kDSxQJTNXZWvi6VxKXTkswWzlWHUE87MvftMz/fTiRP41ujqN9jFCEjLcsuHgPjkFHP9aOTZAcuRnHrAUmfbV6Q5k5PcZU2XYDPDIORCxAU725FQGmswXq0K1GA/f3oclpr4GOQiXqUI01fnxWViutQNoTfgVYhwlNYfMvndNe
    The cos
  5. 719

    Question

    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
    A firm currently produces its desired level of output. Its marginal product of labor is 400, its marginal product of capital is 1,000, the wage rate is $20 and the rental rate of capital is $100. In this case, the firm should