Solved

If the Price of Labor Is $5 and the Price

Question 72

Multiple Choice

If the price of labor is $5 and the price of capital is $10, what is the marginal rate of technical substitution at the optimal input choice?

A) 0.5
B) 2
C) decreasing
D) increasing
E) none of the above

Related Questions

Q30: Long-run total cost<br>A)represents the lowest possible cost

Q67: Refer to the following:<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2558/.jpg" alt="Refer

Q68: A dry cleaner currently has 10 workers

Q69: Afirm is producing 1,000 units of output

Q70: You overhear a businessman say: "We want

Q71: A firm is using 500 units of

Q73: To answer the questions, use the

Q74: Economies of scope in the production

Q76: If the price of labor rises relative

Q77: A firm is using 20 units of