Author Question: Refer to Scenario 7.3. Which of the following combinations of inputs is on the isoquant to produce ... (Read 86 times)

mikaylakyoung · **on:** Jul 1, 2018

Refer to Scenario 7.3. Which of the following combinations of inputs is on the isoquant to produce 400 units of output?

A) L = 0, K = 400
B) L = 400, K = 0
C) L = 100, K = 100
D) all of the above
E) A and B, but not C

Question 2

Which of the following actions may be explained by the law of small numbers?

A) People buy lottery tickets.
B) People buy air travel insurance.
C) People purchase extended or long-term warranties or maintenance contracts for new automobiles and appliances.
D) all of the above