If a firm fired one worker and lost 12 units of production and decides to add one more unit of capital, then to remain on the same isoquant what must be TRUE?
A) The MPK of the next unit of capital added equals 12.
B) The firm must force the other workers to work more.
C) The firm will experience a decline in output.
D) The marginal rate of technical substitution is greater than 12.
Question 2
Two firms sell 100 orange juice in 10 ounce bottles. The juice is only good for one week. The two firms have contracts for all the oranges produced in a large geographic area. Each firm decides how many bottles of juice to produce at the same time.
This market is best described with a A) Bertrand model.
B) Stackelberg model.
C) monopolistic competition model.
D) Cournot model.
Galaxies Forming by Combining Smaller Units
The basic unit of life - cell
A functional renal unit.
Human of the planet's net primary production and appropriation of NPP
Insulin Syringes: 100 Unit (A), 50 Unit (B), and 30 Unit (C)
Production efficiency vs. trophic efficiency