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Author Question: Assume the Backwoods Shoe Company hires three inputs: labor ( L), capital ( K), and land ( A) to ... (Read 146 times)

melly21297

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  • Posts: 565
on: Apr 19, 2019

Question 1

An increase in labor productivity would cause a rightward shift of the labor supply curve.


◦ true
◦ false

Question 2

Assume the Backwoods Shoe Company hires three inputs: labor (
L), capital (
K), and land (
A) to produce shoes (
X). Which of the following conditions must be met so that the firm is using the optimal, or least costly, combination of inputs?


◦ MPL = 
MPK = 
MPA
◦ PL = 
PK = 
PA
◦ MPL/
PL = 
MPK/
PK = 
MPA/
PA
◦ MPL = 
MPK = 
MPA = 1/
PX
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by melly21297 on Apr 19, 2019

k.lashomb

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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melly21297

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Reply 2 on: Apr 19, 2019
:D TYSM

marict

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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