On an isoquant, the MRTS is defined as
A. MP + MPL.
B. MPL * MPK.
C. MPK/MPL at the relevant point on the isoquant.
D. .
Answer: C
Economics
You might also like to view...
Explain why a balanced budget has an expansionary effect on the economy
Economics
Given that India and Sri Lanka are trading partners, if Sri Lanka experiences a recession, the aggregate demand curve of India will shift to the right
a. True b. False Indicate whether the statement is true or false
Economics
If people expect the price of packaged coffee to rise next week, coffee demand will:
A. decrease now. B. increase now. C. stay the same now and increase next week. D. stay the same now and decrease next week.
Economics
About two-thirds of U.S. electricity is generated from:
A. hydroelectric. B. petroleum. C. nuclear energy. D. coal and gas.
Economics