Author Question: Related to the Economics in Practiceon page 151: Which of the following is the best analysis of the ... (Read 106 times)

bb · **on:** Apr 19, 2019

Question 1

Costs of production are determined

◦ only by the technologies that are available.
◦ only by the input prices that are available.
◦ by the technologies that are available and by input prices.
◦ by the technologies that are available and by the demand for the output.

Question 2

Related to the
Economics in Practice on page 151: Which of the following is the best analysis of the question of how fast delivery truck drivers should drive in order to reduce costs?

◦ They should drive as quickly as possible in order to make more deliveries per day.
◦ They should drive at the most fuel-efficient rate in order to reduce fuel consumption costs.
◦ They should balance the concerns of speed and fuel efficiency and drive at a speed that minimizes total expenses.
◦ They should drive as close to the legal speed limit as possible.

duke02 · **Reply #1 on:** Apr 19, 2019

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