menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Microeconomics Theory with Applications
  4. Exam
    Exam 7: Production Cost: Many Variable Inputs
  5. Question
    If Input Prices Are Constant and the Quantity of an Input
Solved

If Input Prices Are Constant and the Quantity of an Input

Question 69

Question 69

Multiple Choice

If input prices are constant and the quantity of an input decreases with increases in output, that input is said to be:


A) normal.
B) inferior.
C) advanced.
D) obsolete.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q64: If a firm's production function is f(z<sub>1</sub>,z<sub>2</sub>)=

Q65: Scale elasticity refers to changes in:<br>A)output due

Q66: A firm produces steel plates using a

Q67: Suppose Kate's bakery operates with the production

Q68: The cost function, TC(y), shows the:<br>A)linear pattern

Q70: Explain the relationship between the long run

Q71: Define isoquant and isocost curves. If f(L,K)=

Q72: When returns to scale are increasing, long

Q73: The Marginal Rate of Technical Substitution diminishes

Q74: For a firm that experiences decreasing returns

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines