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Author Question: Suppose pigs (P) can be fed corn-based feed (C) or soybean-based feed (S) such that the production ... (Read 121 times)

jwb375

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on: Jul 1, 2018
Suppose pigs (P) can be fed corn-based feed (C) or soybean-based feed (S) such that the production function is P = 2C + 5S. The expansion path depends
 a. on the price of corn-based feed only.
  b. on the price of soybean-based feed only.
  c. on neither the price of corn-based or soybean-based feed.
  d. on whether the price of corn-based feed is greater than or less than 2/5 the price of soybean-based feed.

Question 2

Suppose pigs (P) can be fed corn-based feed (C) or soybean-based feed (S) such that the production function is P = 2C + 5S. If the price of corn feed is 4 and corn feed is on the horizontal axis, and the price of soybean feed is 5 and soybean feed lies on the vertical axis, what is expansion path?
 a. C =5S/2
  b. S =2C/5
  c. the horizontal axis
  d. the vertical axis


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rosiehomeworddo

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Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

d


jwb375

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Reply 2 on: Jul 1, 2018
Excellent

ktidd

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

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