This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Competition results in the efficient product mix because A) producers are setting MRT equal to ... (Read 189 times)

APUS57

  • Hero Member
  • *****
  • Posts: 571
on: Jul 1, 2018
Competition results in the efficient product mix because
 
  A) producers are setting MRT equal to minus the price ratio while consumers are setting MRS equal to minus the price ratio ensuring that MRT will equal MRS.
  B) consumers are on the contract curve.
  C) the slope of the production possibility frontier will equal the slope of the contract curve.
  D) the distribution of the final output is Pareto efficient.

Question 2

If an isocost line crosses the isoquant twice, a cost minimizing firm will
 
  A) use a different isocost line to select the bundle of inputs.
  B) use the input bundle associated with the intersection on the higher point of the isoquant.
  C) use the input bundle associated with the intersection on the lower point of the isoquant.
  D) Both B and C.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Chocorrol77

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Jul 1, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 35% of students answer this correctly


APUS57

  • Member
  • Posts: 571
Reply 2 on: Jul 1, 2018
Excellent

parshano

  • Member
  • Posts: 333
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

The FDA recognizes 118 routes of administration.

Did you know?

Vaccines prevent between 2.5 and 4 million deaths every year.

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

The average human gut is home to perhaps 500 to 1,000 different species of bacteria.

Species of the algal genus Dinobryon not only photosynthesize, but are also efficient predators of b Species of the algal genus Dinobryon not only photosynthesize, but are also efficient predators of b
Monitoring and Following Up on Laboratory Test Results Monitoring and Following Up on Laboratory Test Results
According to neuroendocrine models of depression, repeated or chronic stress results in overactivity ... According to neuroendocrine models of depression, repeated or chronic stress results in overactivity ...
If the gauge reading is now much higher than the first test results, then the cause of the low ... If the gauge reading is now much higher than the first test results, then the cause of the low ...
Refraction and the Setting or Rising Sun Refraction and the Setting or Rising Sun
F1 and F2 results of Mendel’s dihybrid crosses F1 and F2 results of Mendel’s dihybrid crosses
Video: Oxygen transport: association and dissociation & Factors that affect hemoglobin's saturation with O2

For a complete list of videos, visit our video library