Refer to Figure 11-12. Which of the following statements about the input combinations shown in the diagram is false?
A) The firm produces a lower output level when it uses input combination d compared to input combination a.
B) The firm incurs the same total cost when it uses input combination a or c to produce a given quantity of output.
C) The firm produces the same output level when it uses input combination a or c.
D) The firm produces a higher output level when it uses input combination b compared to input combination a.
B
You might also like to view...
Refer to the table above. If Jack has an annual income of $50,000 and Jill earns $77,500, which of the following is true?
A) Jack and Jill pay an equal amount of tax. B) The average rates of tax paid by Jack and Jill are equal. C) The marginal tax rate for Jack is higher than the marginal tax rate for Jill. D) Jack and Jill fall in the same tax bracket.
When did the Fed fail to engage in a pre-emptive strike to keep the economy at or near the natural rate of unemployment?
A) 1994 B) 1998 C) 2001 D) None of the above. The Fed acted in each of these years.
Sharing contracts in franchising the marginal benefit of the effort
a. Increases b. Decreases c. Do not change d. Eliminates
If reserves pay interest below the market federal funds rate, why would a bank hold any excess reserves?
What will be an ideal response?