Multiple Choice
Equilibrium is:
A) ceteris paribus
B) sanity; balance
C) a point where there is no tendency to change
D) does not change when relative prices change
Correct Answer:
Verified
Correct Answer:
Verified
Q15: An isoquant is:<br>A) all combinations of two
Q16: MRTS is equal to:<br>A) ΔX<sub>2</sub>/ΔX<sub>1</sub><br>B) Δ1</sub>/ΔX<sub>2</sub><br>C) ΔY/ΔX<br>D)
Q17: Define and explain MRTS carefully.
Q18: In sub-Saharan Africa, the choice of labor
Q19: Labor and agrochemicals are:<br>A) complements in production<br>B)
Q21: The choice of techniques depends on:<br>A) managerial
Q22: Perfect substitutability of inputs is:<br>A) the most
Q23: The slope of the isoquant is:<br>A) the
Q24: Managers of agribusiness firms can substitute inputs
Q25: Hired labor and farm operators are:<br>A) complements