A firm's isoquant shows:
a. the amount of labor needed to produce a given level of output with capital held constant.
b. the amount of capital needed to produce a given level of output with labor held constant.
c. the various combinations of capital and labor that will produce a given amount of output.
d. none of the above.
Question 2
Credibility in threats and commitments in sequential games is based on
a. randomizing one's actions so they are unpredictable
b. explicit communications with competitors
c. effective scenario planning
d. analyzing best reply responses
e. none of the above
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