contestada

Give an example of a firm that should maintain its use of capital but increase its use of labor.

Respuesta :

A mining company should increase the amount of its labor used in the extraction of minerals while the capital invested will remain the same.

What is Labor?

A labor is a worker that is hired by a firm to perform the tasks, the labor is usually not very literate and they are usually paid wages instead of salary.

The wages paid to labor is determined according to the hours worked or a piece rate is applied where the labor is paid for the amount of work done, this rate is negotiated and accepted by both the labor and the employer at the time of contract is made.

Labor can be increased in mining firm where the more labor utilized will discover more minerals and thus these minerals can be sold in the market to earn revenues. The increase in labor will not require any capital investments.

Learn more about Labor at https://brainly.com/question/27047285

#SPJ1

ACCESS MORE
EDU ACCESS