Given the above graph, as you move from input combination A to input combination C,
A. output is unchanged.
B. cost is unchanged.
C. the marginal rate of technical substitution increases.
D. both a and b
E. all of the above
Answer: D
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Explain how and why an all-volunteer army may actually be cheaper than an army staffed with drafted soldiers
What will be an ideal response?
The classical economists' conclusion that nominal income is determined by movements in the money supply rested on their belief that ________ could be treated as ________ in the short run
A) velocity; constant B) velocity; variable C) money; constant D) money; variable
A corporation's income is taxed
a. immediately after it is deposited in the bank. b. only before it is distributed to its owners. c. only after it is distributed to owners. d. both before and after it is distributed to owners.
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A) consumers trying products to determine if their consumer surplus increases. B) consumers trying products to determine if firm advertising is honest. C) consumers trying to minimize expenditures. D) consumers trying to maximize choice.