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Author Question: For a firm with only two inputs, capital and labour, the condition MPK/MPL= PK/PLguarantees that the firm is (Read 78 times)

Darron12

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on: Oct 12, 2022

Question 1

For many firms, the LRAC curve is U-shaped. The downward-sloping portion of the LRAC curve can be explained by
◦ economies of scale.
◦ rising prices of the fixed factor.
◦ diminishing returns to the variable factor.
◦ diminishing returns to the fixed factor.
◦ decreasing short-run marginal cost.

Question 2

For a firm with only two inputs, capital and labour, the condition MPK/MPL = PK/PL guarantees that the firm is
◦ technically efficient but not economically efficient.
◦ at its profit-maximizing output but is not necessarily minimizing its costs.
◦ minimizing its costs but is not necessarily maximizing its profits.
◦ at its profit-maximizing and cost-minimizing level of output.
◦ economically efficient but not technically efficient.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by Darron12 on Oct 12, 2022

bleep bloop

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Reply #1 on: Oct 12, 2022
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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Darron12

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Reply 2 on: Oct 12, 2022
Wow, this really help

elyse44

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

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