Multiple Choice
Refer to Figure 8-6.Suppose this firm is producing 3000 golf tees and is at point F on the isoquant map.In order to maintain its output and minimize costs this firm should
A) not change its use of factors.
B) move to an isoquant closer to the origin.
C) move to an isocost line further from the origin.
D) employ more labour and less capital.
E) employ more capital and less labour.
Correct Answer:

Verified
Correct Answer:
Verified
Q1: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5441/.jpg" alt=" FIGURE 8-1 -Refer
Q2: Suppose a firm is using 1500 units
Q3: In the long run,decreasing returns to scale
Q4: The figure below shows the isocost lines
Q6: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5441/.jpg" alt=" FIGURE 8-4 -Refer
Q7: For a firm with only two inputs,capital
Q8: Consider the long-run average cost curve for
Q9: Consider a firm that uses only labour
Q10: TABLE 8-1<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5441/.jpg" alt="TABLE 8-1
Q11: Assume a firm is using 6 units