« previous next »

Author Question: When an isocost line is just tangent to an isoquant, we know that A) output is being produced at ... (Read 116 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?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

Immunoglobulin injections may give short-term protection against, or reduce severity of certain diseases. They help people who have an inherited problem making their own antibodies, or those who are having certain types of cancer treatments.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Dial-A-Flo in-line device to regulate IV flow. Dial-A-Flo in-line device to regulate IV flow.
An AC voltage is produced by a magnetic sensor. Most sensors should produce at least 0.1 volt AC ... An AC voltage is produced by a magnetic sensor. Most sensors should produce at least 0.1 volt AC ...
How to find the distance of any line segment How to find the distance of any line segment
How to find the slope of a line using any two points How to find the slope of a line using any two points
How to graph line equations without a table of values How to graph line equations without a table of values
The forked-line method for determining gamete genotype frequency The forked-line method for determining gamete genotype frequency
Video: Kidney Stones

For a complete list of videos, visit our video library