Multiple Choice
The following table shows the marginal products of capital (K) and labour (L) for various methods for Firm ABC to produce 1000 toys per day.
TABLE 8-2
-Refer to Table 8-2.As this firm switches from production method A to production method G,production is
A) moving farther and farther away from cost minimization.
B) becoming more capital intensive and less labour intensive.
C) becoming more profitable.
D) becoming more labour intensive and less capital intensive.
E) remaining at a cost-minimizing level of output.
Correct Answer:

Verified
Correct Answer:
Verified
Q19: What is the definition of productivity?<br>A)output produced
Q20: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5441/.jpg" alt=" FIGURE 8-4 -Refer
Q21: Isoquants are usually drawn convex when viewed
Q22: The point of tangency between the short-run
Q23: Suppose a shipping company employs 2000 workers,operates
Q25: An individual isocost line is a downward
Q26: A very-long-run consideration that could change a
Q27: Assume a firm is using 10 units
Q28: If a firm is using labour and
Q29: Assume a firm is using 10 units