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Author Question: Refer to Figure 11-11. In the short run, if the firm sells fewer than 5,000 picture frames per month ... (Read 149 times)

Tazate

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on: Jun 29, 2018
Refer to Figure 11-11. In the short run, if the firm sells fewer than 5,000 picture frames per month
 
  A) it should produce with the scale of operation associated with ATCc.
  B) it should produce with the scale of operation associated with ATCa.
  C) it should produce with the scale of operation associated with ATCb.
  D) it will experience constant returns to scale.

Question 2

Refer to Figure 10-4. What is the marginal rate of substitution for one bar of chocolate between h and j?
 
  A) of a cookie. B) of a cookie. C) 2 cookies. D) 4 cookies.


brbarasa

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

B


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