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Question
Companies can rent a manufacturing robot named RoboMan for $2,500 a month and must pay workers $20 an hour. The value of the marginal product of RoboMan is $5,000, and the value of the marginal product of labor is $20. Companies should hire ________ RoboMen and ________ workers.
a. more; fewer
b. more; more
c. fewer; fewer
d. fewer; more
e. the same amount of; more
Answer
This answer is hidden. It contains 76 characters.
Related questions
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The economic entity most likely to engage in price gouging is
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What is the long-run consequence of a price ceiling law?
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Q:
Suppose Solomon lives in a community with no price controls. What do you expect will happen if his town borders a community where there is a binding price ceiling on most products?
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Q:
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Q:
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