Refer to the information provided in Figure 7.11 below to answer ...

[jon_i]

Question 1

Refer to the information provided in Figure 7.11 below to answer the question(s) that follow. 

 

Refer to Figure 7.11. If the firm's cost of capital is $30 per unit and its cost of labor is $60 per unit, the isocost line represents a total cost of

◦ $2,000.
◦ $3,000.
◦ $6,000.
◦ $8,000.

Question 2

Refer to the information provided in Figure 7.11 below to answer the question(s) that follow. 

 

Refer to Figure 7.11. The slope of the isocost line is

◦ -2.
◦ -1/2.
◦ 1/2.
◦ 2.

[flexer1n1]

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[tth]

Question 1

Refer to the information provided in Figure 7.11 below to answer the question(s) that follow. 

 

Refer to Figure 7.11. At Point 
C, the slope of isoquant 
q
² = 200 is

◦ -2.
◦ -1/2.
◦ -1.
◦ indeterminate from this information.

Question 2

Refer to the information provided in Figure 7.11 below to answer the question(s) that follow. 

 

Refer to Figure 7.11. If the firm's level of total cost is represented by the given isocost line, the firm's optimal combination of capital and labor is given by

◦ point 
A.
◦ point 
B.
◦ point 
C.
◦ 50 units of capital and 50 of labor.

[elyse44]

Answer 1

-2.

Answer 2

point 
C.

[tth]

Thank you!

[elyse44]

Always glad to help...

[luminitza]

Question 1

Refer to the information provided in Figure 7.11 below to answer the question(s) that follow. 

 

Refer to Figure 7.11. If the firm's cost of capital is $15 per unit and its cost of labor is $30 per unit, the isocost line represents a total cost of

◦ $2,000.
◦ $3,000.
◦ $6,000.
◦ $8,000.

Question 2

Refer to the information provided in Figure 7.11 below to answer the question(s) that follow. 

 

Refer to Figure 7.11. If the firm's cost of capital is $24 per unit and its cost of labor is $48 per unit, the isocost line represents a total cost of

◦ $2,400.
◦ $3,600.
◦ $4,800.
◦ $7,200.

[yahahah24021]

Answer 1

$3,000.

Answer 2

$4,800.

[jake]

Question 1

Refer to the information provided in Figure 7.11 below to answer the question(s) that follow. 

 

Refer to Figure 7.11. If the isocost line represents a total cost of $7,200, the firm's cost of capital is ________ per unit and its cost of labor is ________ per unit.

◦ $36; $72
◦ $144; $72
◦ $72; $36
◦ $200; $100

Question 2

Refer to the information provided in Figure 7.11 below to answer the question(s) that follow. 

 

Refer to Figure 7.11. If the firm's cost of capital is $18 per unit, then its cost of labor is ________ per unit.

◦ $1.80
◦ $9
◦ $36
◦ $900

[briezy]

Answer 1

$36; $72

Answer 2

$36