Labor-Intensive Industries: Key Definitions, Examples and Financial Impact
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A firm has to choose between two technologies; both produce same output with one being labor intensive and other being capital intensive. The firm will use labor intensive technology when . Select the correct answer below: wages are less than the interest rate total cost of labor is less than total cost of capital average variable cost is less than average fixed cost labor is more productive than capital
A firm has to choose between two technologies; both produce same …
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