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Author Question: Suppose the marginal cost of a piece of candy is given by MCc = 2Qc and the marginal cost of a desk ... (Read 339 times)

CORALGRILL2014

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on: Jul 1, 2018
Suppose the marginal cost of a piece of candy is given by MCc = 2Qc and the marginal cost of a desk is MCd = 4 + 4Qd. The current production levels are 20 pieces of candy and 4 desks. The marginal rate of transformation (MRT) is
 
  A) MRT = -1.
  B) MRT = -2.
  C) MRT = -4.
  D) MRT = -8.

Question 2

If the isoquants are straight lines or L-shaped, then a cost-minimizing firm will
 
  A) not be able to minimize costs.
  B) find the lowest isocost line touching the relevant isoquant.
  C) find the highest isocost line touching the relevant isoquant.
  D) choose not to produce any output.
Microeconomics ¦ Perloff ¦ 8th Edition
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mohan

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

B

Answer to Question 2

B


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