Conditional input demand curves always slope down, but unconditional input demand curves can slope up.
Answer the following statement true (T) or false (F)
False
Rationale: All input demand curves slope down.
You might also like to view...
If future price changes were perfectly anticipated by both borrowers and lenders, then _____
a. the expected real interest rate would be higher than the actual rate b. the expected real interest rate would lower than the actual rate c. the real interest rate in the future would decrease by the amount of the price increase d. the real interest rate in the future would increase by the amount of the price increase e. the real interest rate in the future would remain unchanged
A perfectly competitive firm may earn economic profits in
a. only the short run. b. only the long run. c. the short run and the long run. d. neither the short run nor the long run.
Which of the following is not a problem with barter?
a. Determining and remembering the prices of everything you want to buy in terms of the goods and services you want to sell. b. Dividing assets into convenient, small denominations that can be spent. c. Finding an asset that cannot be duplicated and manipulated by the government. d. Having a mutual coincidence of wants and surpluses with trading partners. e. All of the above are problems.
Economies of scale exist when long-run average total costs ______.
a. fall as output expands b. rise as output expands c. are steady as output expands d. rise regardless of output