A firm’s optimal input proportions may change if
A. input prices change.
B. the relative marginal productivities of the inputs change.
C. the firm’s optimal output level changes.
D. All of the responses are correct.
Answer: D
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Most of the world's water is used for
a. Agricultural purposes b. Manufacturing c. Cooling power plants d. Municipal supplies e. Factories
Deliberation councils have no private sector input
Indicate whether the statement is true or false
Assume the total product of two workers is 100 and the total product of three workers is 120. The average product of three workers is ________, and the marginal product of the third worker is ________.
A. 20; 100 B. 120; 100 C. 13.33; 6.67 D. 40; 20
If the graph shown represents Stella's budget constraint, and hairbands cost $4, what must Stella's income to spend on these two items be?
A. $48 B. $16 C. $32 D. Cannot answer this question without more information.