« previous next »

Author Question: When an isocost line is just tangent to an isoquant, we know that A) output is being produced at ... (Read 104 times)

meagbuch

  • Hero Member
  • *****
  • Posts: 568
on: Jul 1, 2018
When an isocost line is just tangent to an isoquant, we know that
 
  A) output is being produced at minimum cost.
  B) output is not being produced at minimum cost.
  C) the two products are being produced at the least input cost to the firm.
  D) the two products are being produced at the highest input cost to the firm.

Question 2

A firm should hire more labor when the marginal revenue product of labor
 
  A) equals the wage rate.
  B) exceeds the wage rate.
  C) is less than the wage rate.
  D) Any of these can be true.
  E) None of these are true.


snackralk

  • Sr. Member
  • ****
  • Posts: 363
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

Everyone has one nostril that is larger than the other.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Comparison of the radius of fruits produced by native and introduced species of Sapindaceae Comparison of the radius of fruits produced by native and introduced species of Sapindaceae
Cardiac Output Cardiac Output
Spectral Line Motion in Binary Star Systems Spectral Line Motion in Binary Star Systems
The major cortical input and output pathways of the dorsolateral prefrontal association cortex. ... The major cortical input and output pathways of the dorsolateral prefrontal association cortex. ...
How to find the slope of a line using any two points How to find the slope of a line using any two points
Nuchal Line Nuchal Line
Video: Methods of carbon dioxide transport - carbaminohemoglobin and bicarbonate ions

For a complete list of videos, visit our video library