If technology dictates that labor and capital must be used in fixed proportions, an increase in the price of capital will cause a firm to use

If technology dictates that labor and capital must be used in fixed proportions, an increase in the price of capital will cause a firm to use:
A. less labor as a consequence of the substitution effect.
B. less labor as a consequence of the output effect.
C. more labor as a consequence of the substitution effect.
D. more labor as a consequence of the output effect.
ECO 561 UOP Final Exam University of Phoenix
Eco561 Eco/561 Final Examination Exam multiple choice quiz


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