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Author Question: Refer to Figure 11-15. Suppose Hilda produces 100 gooseberry pies. What is the marginal rate of ... (Read 152 times)

abarnes

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on: Jun 29, 2018
Refer to Figure 11-15. Suppose Hilda produces 100 gooseberry pies. What is the marginal rate of technical substitution of labor for capital when labor is increased from 10 to 20 hours?
 
  A) 1 unit of capital B) 10 units of capital C) 14 units of capital D) 24 units of capital

Question 2

A proportional tax is a tax for which people with lower incomes
 
  A) pay a lower percentage of their incomes in tax than do people with higher incomes.
  B) pay the same percentage of their incomes in tax as do people with higher incomes.
  C) pay the same amount of taxes as people with higher incomes pay.
  D) pay a higher percentage of their incomes in tax than do people with higher incomes.


bblaney

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

B


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