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Author Question: Higher input prices result in A) upward shifts of MC and reductions in output. B) upward shifts ... (Read 172 times)

crobinson2013

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on: Jul 1, 2018
Higher input prices result in
 
  A) upward shifts of MC and reductions in output.
  B) upward shifts of MC and increases in output.
  C) downward shifts of MC and reductions in output.
  D) downward shifts of MC and increases in output.
  E) increased demand for the good the input is used for.

Question 2

Which of the following examples represents a fixed-proportion production system with capital and labor inputs?
 
  A) Clerical staff and computers
  B) Airplanes and pilots
  C) Horse-drawn carriages and carriage drivers
  D) all of the above


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aidanmbrowne

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

A

Answer to Question 2

D


crobinson2013

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

raenoj

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

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