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Author Question: Which of the following is NOT an expression for the cost minimizing combination of inputs? A) ... (Read 48 times)

torybrooks

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on: Jul 1, 2018
Which of the following is NOT an expression for the cost minimizing combination of inputs?
 
  A) MRTS = MPL /MPK
  B) MPL/w = MPK/r
  C) MRTS = w/r
  D) MPL/MPK = w/r
  E) none of the above

Question 2

What happens to an incumbent firm's demand curve in monopolistic competition as new firms enter?
 
  A) It shifts right.
  B) It shifts left.
  C) It becomes horizontal.
  D) New entrants will not affect an incumbent firm's demand curve.


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Ddddd

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

B


torybrooks

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

isabelt_18

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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