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Author Question: Assume that the relative prices of capital and labor have not changed. As a firm's expenditures for ... (Read 63 times)

chads108

  • Hero Member
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  • Posts: 507
on: Apr 19, 2019

Question 1

If the marginal product of labor equals the average product of labor, then the


◦ average product is maximized.
◦ marginal product is maximized.
◦ marginal product is still increasing.
◦ average product is still increasing.

Question 2

Assume that the relative prices of capital and labor have not changed. As a firm's expenditures for capital and labor increase, its isocost line


◦ shifts out parallel to the original isocost line.
◦ shifts in parallel to the original isocost line.
◦ rotates outward on the 
Y-intercept.
◦ rotates outward on the 
X-intercept.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by chads108 on Apr 19, 2019

juiceman1987

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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chads108

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Reply 2 on: Apr 19, 2019
Great answer, keep it coming :)

LVPMS

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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