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Author Question: Competition results in the efficient product mix because A) producers are setting MRT equal to ... (Read 150 times)

APUS57

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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
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Chocorrol77

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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.
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APUS57

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

tranoy

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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