Multiple Choice
Consider a production function , when is graphed on the -axis and is graphed on the -axis, the marginal rate of technical substitution is equal to:
A) and the isoquant is convex to the origin.
B) and the isoquant is a straight line.
C) and the isoquant is a straight line.
D) 12 and the isoquant is convex to the origin.
Correct Answer:

Verified
Correct Answer:
Verified
Q13: Given the simple production function
Q14: Returns to scale can be identified by
Q15: Because the production function identifies the maximum
Q16: The marginal rate of technical substitution in
Q17: A production manager notices that when she
Q19: Diminishing marginal returns occur when the total
Q20: Suppose every molecule of salt requires
Q21: Technically inefficient points are points contained in
Q22: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8502/.jpg" alt=" -Average product reaches
Q23: For a simple graph of a production