In the healthcare economy, as in many other markets, if the firm has a high capital-to-labor ratio, it is more responsive to changes in price due to the inability to easily switch production capacity because of the fixed nature of capital or the substitutability of labor for capital. Group of answer choices True False

In the healthcare economy, as in many other markets, if the firm has a high capital-to-labor ratio, it is more responsive to changes in price due to the inability to easily switch production capacity because of the fixed nature of capital or the substitutability of labor for capital. Group of answer choices True False

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter16: The Markets For Labor, Capital, And Land

Section: Chapter Questions

Problem 16P

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