Question 1
Assume that the relative prices of capital and labor have not changed. As a firm's expenditures for capital and labor decrease, its isocost line
◦ shifts out parallel to the original isocost line.
◦ shifts in parallel to the original isocost line.
◦ rotates outward on the
Y-intercept.
◦ rotates outward on the
X-intercept.
Question 2
Related to the
Economics in Practice on page 150: For pineapple farmers in Ghana, the choice of how much fertilizer to use was highly dependent on how much fertilizer their more successful neighbor farmers used. This process of technology adoption is referred to as
◦ trial and error.
◦ capital-intensive adaptation.
◦ social learning.
◦ mass production.
The “Pineapple Express”
Modern machinery has helped farmers increase yields
Economics question
Economics question
Economics question
Concepts related to environmental health