question archive f a firm's production function is Leontief and the wage rate goes up, the: Multiple Choice 1)firm must use more labor in order to minimize the cost of producing a given level of output
f a firm's production function is Leontief and the wage rate goes up, the: Multiple Choice 1)firm must use more labor in order to minimize the cost of producing a given level of output
Subject:EconomicsPrice: Bought3
f a firm's production function is Leontief and the wage rate goes up, the:
Multiple Choice
1)firm must use more labor in order to minimize the cost of producing a given level of output.
2)firm must use more capital in order to minimize the cost of producing a given level of output.
- firm must use less labor in order to minimize the cost of producing a given level of output.
- cost minimizing combination of capital and labor does not change.
