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Author Question: If the isoquants are straight lines, then A) inputs have fixed costs at all use rates. B) the ... (Read 104 times)

sdfghj

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on: Jul 1, 2018
If the isoquants are straight lines, then
 
  A) inputs have fixed costs at all use rates.
  B) the marginal rate of technical substitution of inputs is constant.
  C) only one combination of inputs is possible.
  D) there are constant returns to scale.

Question 2

See Scenario 4.5. As the price of grilled cheese sandwiches decreases, the price elasticity of demand:
 
  A) increases.
  B) does not change.
  C) decreases.
  D) none of the above


Melissahxx

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

B

Answer to Question 2

B


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