Carolyn knows average total cost and average variable cost for a given level of output. Which of the following costs can she not determine given this information?
A) total cost
B) average fixed cost
C) fixed cost
D) variable cost
E) Carolyn can determine all of the above costs given the information provided.
E
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If the price of capital is $24, the price of labor is $15, and the marginal product of capital is 16, the least costly combination of capital and labor requires that the marginal product of labor be ________
Fill in the blank(s) with correct word
A quota ordinarily specifies both minimum and maximum amounts of goods that can come into a country
a. True b. False Indicate whether the statement is true or false
Which of the following shows the relationship between employees and their peers?
a. organizational chart b. gantt chart c. decision tree d. simulation
An assumption underlying indifference curve analysis is that MUx/MUy ________ as more of X and less of Y is consumed.
A. increases B. remains constant C. decreases D. always equals one