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Author Question: A firm used to produce a product using three units of labor and one unit of capital. The firm ... (Read 110 times)

mia

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  • Posts: 564
on: Apr 19, 2019

Question 1

Thinking up a new idea is an example of


◦ an invention.
◦ an innovation.
◦ human capital accumulation.
◦ social overhead capital.

Question 2

A firm used to produce a product using three units of labor and one unit of capital. The firm discovers that it can produce more output at a lower cost if it combines two units of labor with two units of capital. This is an example of


◦ an innovation.
◦ an invention.
◦ increasing returns.
◦ economic growth.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by mia on Apr 19, 2019

nyrave

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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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mia

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Reply 2 on: Apr 19, 2019
Thanks for the timely response, appreciate it

irishcancer18

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Reply 3 on: Yesterday
Excellent

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