« previous next »

Author Question: When an isocost line is just tangent to an isoquant, we know that A) output is being produced at ... (Read 107 times)

meagbuch

  • Hero Member
  • *****
  • Posts: 568
on: Jul 1, 2018
When an isocost line is just tangent to an isoquant, we know that
 
  A) output is being produced at minimum cost.
  B) output is not being produced at minimum cost.
  C) the two products are being produced at the least input cost to the firm.
  D) the two products are being produced at the highest input cost to the firm.

Question 2

A firm should hire more labor when the marginal revenue product of labor
 
  A) equals the wage rate.
  B) exceeds the wage rate.
  C) is less than the wage rate.
  D) Any of these can be true.
  E) None of these are true.


snackralk

  • Sr. Member
  • ****
  • Posts: 363
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Thyroid conditions may make getting pregnant impossible.

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

First Line of Defence First Line of Defence
No recombinants are produced without cell contact No recombinants are produced without cell contact
If you want to show differences between items at the same time, a bar graph is more effective than a If you want to show differences between items at the same time, a bar graph is more effective than a
A mini clamp-on digital multimeter can be used to measure alternator output and unwanted AC current ... A mini clamp-on digital multimeter can be used to measure alternator output and unwanted AC current ...
Inferring Productivity from Data on Output and Factor Accumulation Inferring Productivity from Data on Output and Factor Accumulation
Find the equation of the normal line to f(x)=sinx+cosx at x = π. Find the equation of the normal line to f(x)=sinx+cosx at x = π.
Video: Aneurysm

For a complete list of videos, visit our video library