5. You own a business that answers telephone calls for physicians after their offices closes. You have an incentive to substitute capital for labor if the, Select the correct response: Price of labor decreases o Marginal product of labor increases Price of labor increases Price of capital and labor increases None of the above Price of capital increases OOOO O

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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5. You own a business that answers telephone calls for physicians after their offices closes.
You have an incentive to substitute capital for labor if the,,
Select the correct response:
Price of labor decreases
o Marginal product of labor increases
Price of labor increases
Price of capital and labor increases
None of the above
Price of capital increases
O o o O O O
Transcribed Image Text:5. You own a business that answers telephone calls for physicians after their offices closes. You have an incentive to substitute capital for labor if the,, Select the correct response: Price of labor decreases o Marginal product of labor increases Price of labor increases Price of capital and labor increases None of the above Price of capital increases O o o O O O
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