Multiple Choice
In the long run
A) all inputs are fixed.
B) a firm is making the optimal input choice when the marginal rate of technical substitution is equal to the input price ratio.
C) the expansion path shows how the input marginal products change as the firm's output level changes.
D) both a and b
E) none of the above
Correct Answer:
Verified
Correct Answer:
Verified
Q3: Refer to the following:<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2558/.jpg" alt="Refer
Q4: Refer to the following:<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2558/.jpg" alt="Refer
Q6: Answer the following questions concerning an expansion
Q7: A publishing house is using 400 printers
Q10: Which of the following is FALSE?<br>A)A change
Q10: Refer to the following:<br>The price of capital
Q11: Refer to the following:<br><br>A producer is hiring
Q12: Refer to the following:<br>The price of capital
Q13: Refer to the following:<br>The price of capital
Q32: Economies of scale exist when<br>A)fixed cost decreases