The firm's expansion path records

a. profit-maximizing output choices for every possible price.
b. cost-minimizing input choices for all possible output levels for when input prices expand along with production.
c. cost-minimizing input choices for all possible output levels for a fixed set of input prices.
d. cost-minimizing input choices for profit-maximizing output levels.

c

Economics

You might also like to view...

The demand for the Franconian franc in the foreign exchange market equals 14,000 - 3,000e and the supply of francs in the foreign exchange market equals 2,000 + 2,000e, where e is the nominal exchange rate expressed in U.S. dollars per franc. If the franc is fixed at 3 U.S. dollars per franc, then to maintain this fixed rate Franconia's international reserves must:

A. decrease by 3,000 dollars per period B. decrease by 9,000 dollars per period C. increase by 3,000 dollars per period D. increase by 9,000 dollars per period

View
Economics

[NeedAttention]

Exhibit 30-1

?

A. Curve X, because if there is a negative externality, external costs are associated with it: social costs = external costs + private costs, therefore the marginal social cost curve must lie above the marginal private cost curve. B. Curve Y, because if there is a negative externality, negative external costs are associated with it: social costs = negative external costs + private costs, therefore the marginal social cost curve must lie below the marginal private cost curve. C. Curve X, because if there is a negative externality, external benefits are associated with it: social costs = external benefits + private costs, therefore the marginal social cost curve must lie above the marginal private cost curve. D. Curve Y, because if there is a negative externality, negative external benefits are associated with it: social costs = negative external benefits + private costs, therefore the marginal social cost curve must lie below the marginal private cost curve.

View
Economics

If the Federal Reserve buys $3 billion worth of Japanese yen, $6 billion of euros, and sells $5 billion of British pounds, how does this affect the balance of payments?

A) Falls by $4 billion B) Rises by $4 billion C) Rises by $9 billion D) Falls by $5 billion

View
Economics

The Fed's monetary policy tools

A) have proven to be of little value in helping the Fed to achieve its monetary policy goals. B) have allowed the Fed to achieve its monetary policy goals directly. C) have allowed the Fed to achieve its monetary policy goals indirectly. D) are no longer as effective in achieving its monetary policy goals, due to restrictive legislation passed by Congress in the 1990s.

View
Economics