« previous next »

Author Question: The marginal rate of technical substitution is A) the rate at which a firm is able to institute ... (Read 80 times)

tingc95

  • Hero Member
  • *****
  • Posts: 556
on: Jun 29, 2018
The marginal rate of technical substitution is
 
  A) the rate at which a firm is able to institute positive technological changes to its production process.
  B) the rate at which a firm is able to increase its output by replacing labor with technology.
  C) the rate at which a firm is able to substitute one input for another, while keeping the level of output constant.
  D) the rate at which a firm is able to substitute one input for another, while keeping total cost constant.

Question 2

Which of the following statements is true?
 
  A) Consumers will buy a product only if it meets a need not met by competing products.
  B) Consumers will buy a product only if its price is below that of its competitors.
  C) Sheer chance often plays a significant role in the success or failure of a business.
  D) Input prices are one of the success factors that firms can control.


dmurph1496

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

A hydrometer is used to measure the American Petroleum Institute (API) specific gravity of diesel ... A hydrometer is used to measure the American Petroleum Institute (API) specific gravity of diesel ...
The material safety data sheet (MSDS) for sulfuric acid showing the detailed technical information ... The material safety data sheet (MSDS) for sulfuric acid showing the detailed technical information ...
Schematic drawing of a permeation test cell used to measure the permeation rate of chemicals through ... Schematic drawing of a permeation test cell used to measure the permeation rate of chemicals through ...
Effect of Increasing the Investment Rate on the Steady State Effect of Increasing the Investment Rate on the Steady State
Calculating Growth Rate of Bacteria Calculating Growth Rate of Bacteria
The radius of the Sun is 6.95 × 108 m. It radiates heat at the rate of 5.32 x 10 The radius of the Sun is 6.95 × 108 m. It radiates heat at the rate of 5.32 x 10
Video: Elementary kinetics

For a complete list of videos, visit our video library