Related to the Economics in Practiceon page 150: For pineapple ...

[magmichele12]

Question 1

Assume that the relative prices of capital and labor have not changed. As a firm's expenditures for capital and labor decrease, its isocost line

◦ shifts out parallel to the original isocost line.
◦ shifts in parallel to the original isocost line.
◦ rotates outward on the 
Y-intercept.
◦ rotates outward on the 
X-intercept.

Question 2

Related to the 
Economics in Practice on page 150: For pineapple farmers in Ghana, the choice of how much fertilizer to use was highly dependent on how much fertilizer their more successful neighbor farmers used. This process of technology adoption is referred to as

◦ trial and error.
◦ capital-intensive adaptation.
◦ social learning.
◦ mass production.

[Danny Ewald]

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[magmichele12]

Thank you!

[Danny Ewald]

Always glad to help...