If a firm fired one worker and lost 12 units of production and decides to add one more unit of capital, then to remain on the same isoquant what must be TRUE?
A) The MPK of the next unit of capital added equals 12.
B) The firm must force the other workers to work more.
C) The firm will experience a decline in output.
D) The marginal rate of technical substitution is greater than 12.
Question 2
Two firms sell 100 orange juice in 10 ounce bottles. The juice is only good for one week. The two firms have contracts for all the oranges produced in a large geographic area. Each firm decides how many bottles of juice to produce at the same time.
This market is best described with a A) Bertrand model.
B) Stackelberg model.
C) monopolistic competition model.
D) Cournot model.
Herbivore biomass is positively correlated with net aboveground primary production.
This lithograph by Currier and Ives gives an erroneous impression of the “battle.” Major Robert Ande
A disposable cautery unit.
A functional renal unit.
One year ago, Christos bought 1000 units of the Dominion Aggressive Growth Fund at $20.35 per ...
Orientation and structure of a nephron, the functional unit of the kidney.