Question 11. Labour intensive technique ischosen in a(a) Labour surplus economy.(b) Capital surplus economy.(c) Developed economy.(d) Developing economy.

According to the given question Labour intensive technique in economics is that technique with…

Answered: Question 11. Labour intensive technique…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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10. Labour-saving technical progress means a) that marginal productivity of capital increases. b) that marginal productivity of labour increases. c) that marginal productivity of both inputs increases. d) None of the above is correct. CHOOSE ONE ANSWER ONLY.

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Question 11. Labour intensive technique is chosen in a (a) Labour surplus economy. (b) Capital surplus economy. (c) Developed economy. (d) Developing economy.