Multiple Choice
An advantage of using the cross-sectional regression method in estimating production is that
A) the problem of technological change over time is overcome.
B) there is no need to adjust data,which are in monetary terms for geographical differences.
C) we can assume that all plants operate at their most efficient input combinations.
D) All of the above
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Isocost curves represent<br>A)least cost combinations of inputs.<br>B)combinations
Q3: In the long run,a firm is said
Q4: Q = K<sup>1/2</sup>L<sup>1/2</sup><br>w = $2,r = $2<br>The
Q5: A firm that operates in Stage III
Q6: Assume a firm employs 10 workers and
Q7: Marginal rates of technical substitution (MRTS)represent<br>A)the optimum
Q8: _ functions are very useful in analyzing
Q9: How would you choose to estimate a
Q10: If MRP > MLC,it means that a
Q11: Output (Total Product)is maximized when<br>A)average productivity is