Lectures in microeconomics can be delivered either by an instructor (labor) or a movie (capital) or any combination of both. Yet the it gets harder and harder to substitute more movies for an instructor the more movies are already used.
Which graph in the above figure best represents the isoquants for lectures in microeconomics when Capital per day is on the vertical axis and Labor per day is on the horizontal axis? A) Graph A
B) Graph B
C) Graph C
D) Graph D
Question 2
If we have a small standard error, then
A) the estimated coefficient is small.
B) the true demand function has imprecise coefficients.
C) the expected variation of the estimated coefficient is small.
D) the estimated coefficients are imprecise indicators of the true values.
Natural Capital
Stages of Labor
Child Labor Rates and GDP Worldwide
North Korea: Labor Issues
Share of Human Capital in Wages in Developing Countries
The Stages of Labor and Birth in a Vaginal Delivery