Multiple Choice
For all regions of the US that produce both corn and soybeans:
A) the Production Possibilities Frontiers (curves) are the same
B) the Marginal Rate of Product Substitution (MRPS) between corn and soybeans is equal
C) none of the other three answers
D) the revenue maximization points will be identical
Correct Answer:

Verified
Correct Answer:
Verified
Q8: Technological change in agriculture is a result
Q9: The MRPS is equal to:<br>A) ΔY<sub>2</sub>/ΔY<sub>1</sub><br>B) ΔX<sub>2</sub>/ΔX<sub>1</sub><br>C)
Q10: Graph the optimal combination of the outputs
Q11: The isorevenue line is:<br>A) concave to the
Q12: In equilibrium:<br>A) MRPS = slope of isorevenue
Q14: Demonstrate the impact of a potential increase
Q15: An isorevenue line depicts all combinations of
Q16: Define the term, "Production Possibilities Frontier."
Q17: The Production Possibilities Frontier (curve) for peanuts
Q18: If the price of the output on