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19. A firm will try to be in each of these situations except (LO6) a) MRP of capital = Price of capital b) MRP of
19. A firm will try to be in each of these situations except (LO6) a) MRP of capital = Price of capital b) MRP of land/Price of land = 1 c) 1 - Price of labor = MRP of labor d) MRP of land/Price of land = MRP of labor/Price of labor 20. The decline in washing machine prices in the 1950s led to an increase in the employment of women because the (L05) a) output effect outweighed the substitution effect b) substitution effect outweighed the output effect c) substitution and output effects offset each other
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