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Author Question: The total revenue graph consistent with Table 8.1 is A) linear and upward-sloping. B) linear ... (Read 96 times)

Haya94

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on: Jul 1, 2018
The total revenue graph consistent with Table 8.1 is
 
  A) linear and upward-sloping.
  B) linear and horizontal.
  C) linear and vertical.
  D) linear and downward-sloping.
  E) concave downwards.

Question 2

Two isoquants, which represent different output levels but are derived from the same production function, cannot cross because
 
  A) isoquants represent different utility levels
  B) this would violate a technical efficiency condition
  C) isoquants are downward sloping
  D) additional inputs will not be used by profit maximizing firms if those inputs decrease output
  E) Both B and D are true.


KKcool

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

A

Answer to Question 2

E


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