Multiple Choice
Which of the following is unlikely to be a source of increasing productivity?
A) better raw materials even if there are no changes in factor quantities or proportions
B) increases in technological know- how
C) better organization of production
D) substitution toward labour and away from capital (with constant technology)
E) better- trained labour
Correct Answer:
Verified
Correct Answer:
Verified
Q2: An isoquant shows<br>A) the whole set of
Q3: The figure below shows the isocost lines
Q4: In defining a firm's long- run average
Q5: If factor prices decrease,<br>A) there will be
Q6: Increasing returns to scale<br>A) means that output
Q8: A short- run average total cost curve
Q9: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5438/.jpg" alt=" FIGURE 8- 4
Q10: Suppose that capital costs $10 per unit
Q11: Assume a firm is using 10 units
Q12: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5438/.jpg" alt=" FIGURE 8- 4