« previous next »

Author Question: A firm uses two factors of production. Irrespective of how much of each factor is used, both factors ... (Read 178 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?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

Did you know?

An identified risk factor for osteoporosis is the intake of excessive amounts of vitamin A. Dietary intake of approximately double the recommended daily amount of vitamin A, by women, has been shown to reduce bone mineral density and increase the chances for hip fractures compared with women who consumed the recommended daily amount (or less) of vitamin A.

3D Plant Layout - Side View for Dual-Stage Pressure Production of Nitric Acid 3D Plant Layout - Side View for Dual-Stage Pressure Production of Nitric Acid
Curative Factors of Group Therapy Curative Factors of Group Therapy
(a) IgA. (b) IgA production. (a) IgA. (b) IgA production.
Thyroid hormone production—Relationship between pituitary and thyroid glands. Thyroid hormone ... Thyroid hormone production—Relationship between pituitary and thyroid glands. Thyroid hormone ...
Structures of four common types of DNA-binding motifs from eukaryotic transcription factors Structures of four common types of DNA-binding motifs from eukaryotic transcription factors
Factors Affecting the Affinity of Hb for O2 Factors Affecting the Affinity of Hb for O2
Video: PET Scan Animation

For a complete list of videos, visit our video library