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Question 17

The amount of labour a producer hires relative to other factor input depends on the

  • A.price of labour or its wage
  • B.price of labour, machinery and other inputs
  • C.price of machinery
  • D.price of other inputs
  • E.type of machinery
Objective

Question details

Exam body
UI
Subject
Economics
Year
2013/2014
Question no.
#17
Type
Objective
Previous · Q16The additional output obtained by using one more unit of a factor is called Next · Q18 The concept of economic efficiency primarily refers to

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