Answer:
The correct answer to the following question is that a perfectly competitive firm should use relatively less capital .
Explanation:
Here we will take out the ratio for marginal product of labor by capital and for wage rate and per unit cost of capital.
Marginal product for labor by capital = 16 / 6
= 2.6666
Wage rate per unit cost of capital = $4/$2
= 2
Now in this situation where Marginal product for labor by capital is greater than Wage rate per unit cost of capital, this indicates that the labor should be used in more quantity and less of capital should be used, which in turn would reduce the marginal product for labor and increase the marginal product for capital.
Answer:
Whats a lawyers favorite suit...
A lawsuit
Explanation:
The answer to your question is TRUE
Answer:
Nigeria employs a combination of tariffs and quotas for the double purpose of taxing international trade for revenue generation and protecting local industries from highly competitive imports. The country's tariffs are determined by the ECOWAS 2015 – 2019 Common External Tariff (CET) Book.Sep 14
Explanation: