« previous next »

Author Question: When an isocost line is just tangent to an isoquant, we know that A) output is being produced at ... (Read 102 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?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

The light produced by fireflies is the result of a reaction The light produced by fireflies is the result of a reaction
the comet Encke riding along its pebbly trail of debris (long diagonal line) between the orbits of M the comet Encke riding along its pebbly trail of debris (long diagonal line) between the orbits of M
Spectral Line Motion in Binary Star Systems Spectral Line Motion in Binary Star Systems
A typical accelerator pedal position (APP) sensor, showing two different output voltage signals ... A typical accelerator pedal position (APP) sensor, showing two different output voltage signals ...
What nuclide is produced when Pb-210 decays by beta emission? What nuclide is produced when Pb-210 decays by beta emission?
Number line for rounding Number line for rounding
Video: DNA Replication

For a complete list of videos, visit our video library