« previous next »

Author Question: A firm uses two factors of production. Irrespective of how much of each factor is used, both factors ... (Read 179 times)

WhattoUnderstand

  • Hero Member
  • *****
  • Posts: 517
on: Jul 1, 2018
A firm uses two factors of production. Irrespective of how much of each factor is used, both factors always have positive marginal products which imply that
 
  A) isoquants are relevant only in the long run
  B) isoquants have negative slope
  C) isoquants are convex
  D) isoquants can become vertical or horizontal
  E) none of the above

Question 2

In game in Scenario 13.8, what is the Nash equilibrium?
 
  A) The strategy pair associated with 1, 10.
  B) The strategy pair associated with 2, 0.
  C) The strategy pair associated with 1, -5000.
  D) The strategy pair associated with 2, 2.
  E) There is no Nash equilibrium in pure strategies.


Jordin Calloway

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

WhattoUnderstand

  • Hero Member
  • *****
  • Posts: 517
Reply #2 on: Jul 1, 2018
Thank you :)


Jordin Calloway

  • Sr. Member
  • ****
  • Posts: 334
Reply #3 on: Jul 1, 2018
Happy to help you


« previous next »
 

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Oil and Natural Gas Production from More Wells in Smaller Areas Oil and Natural Gas Production from More Wells in Smaller Areas
Factors Affecting Body Temperature Factors Affecting Body Temperature
Factors that Influence Pulse Rate Factors that Influence Pulse Rate
Many Factors Influence Your Food Choices Many Factors Influence Your Food Choices
Illustrated correlation between the Mendelian postulates of unit factors Illustrated correlation between the Mendelian postulates of unit factors
The assembly of general transcription factors required for the initiation of transcription by RNAP I The assembly of general transcription factors required for the initiation of transcription by RNAP I
Video: Nervous pathway to the Neuromuscular (NMJ)

For a complete list of videos, visit our video library