Answered: If a good is labour intensive it means…

If a good is labour intensive it means that no capital is used in the manufacturing of that good. Indicate whether the above statement is True or False, AND, with a couple of sentences, explain why.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 5SCQ: If two painters can paint 200 square feet of wall in an hour, and three painters can paint 275...

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If a good is labour intensive it means that no capital is used in the manufacturing of that good. True/ false and reason

If a good is labour intensive it means that no capital is used in the manufacturing of that good.
Indicate whether the above statement is True or False, AND, with a couple of sentences, explain why.
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