This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: By expressing the cost-minimizing condition as MPK/MPL= PK/PL, we are able to see (Read 122 times)

allywil32

  • Full Member
  • ***
  • Posts: 144
on: Oct 12, 2022

Question 1

Which of the following paired concepts are equivalent to each other?
◦ increasing costs; economies of scale
◦ increasing returns; increasing costs
◦ constant costs; economies of scale
◦ increasing returns; decreasing costs
◦ increasing returns; diseconomies of scale

Question 2

By expressing the cost-minimizing condition as MPK/MPL = PK/PL, we are able to see
◦ how the firm can adjust the marginal products of the factors of production to the prices of the factors given by the market.
◦ that the ratio of factor prices is constant over time.
◦ how the firm determines its profit-maximizing output.
◦ that the capital-labour ratio is fixed.
◦ that the firm is producing at a lower cost if the left-hand side of the equation is greater than the right-hand side.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by allywil32 on Oct 12, 2022

ekattan2

  • Full Member
  • ***
  • Posts: 151
Reply #1 on: Oct 12, 2022
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.
Answer Preview
Only 32% of students answer this correctly


allywil32

  • Member
  • Posts: 144
Reply 2 on: Oct 12, 2022
Wow, this really help

epscape

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Multiple experimental evidences have confirmed that at the molecular level, cancer is caused by lesions in cellular DNA.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

The first documented use of surgical anesthesia in the United States was in Connecticut in 1844.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Elle and associates investigated the cost to Datura wrightii of producing sticky leaf trichomes. Elle and associates investigated the cost to Datura wrightii of producing sticky leaf trichomes.
Man undergoing a stress test on a treadmill while physician monitors his condition Man undergoing a stress test on a treadmill while physician monitors his condition
Erythroblastosis fetalis. (a) The condition occurs with an RH+ father and RH– mother. (b) First preg Erythroblastosis fetalis. (a) The condition occurs with an RH+ father and RH– mother. (b) First preg
The Increasing Cost of Health Care, 1960–2010 The Increasing Cost of Health Care, 1960–2010
Mirror Box Therapy Compared to Mental Visualization and a Control Condition Mirror Box Therapy Compared to Mental Visualization and a Control Condition
Calculate the weighted-average cost of the following inventory purchases:DateQuantity ... Calculate the weighted-average cost of the following inventory purchases:DateQuantity ...
Video: Acid-base imbalances - respiratory acidosis and alkalosis

For a complete list of videos, visit our video library