Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The marginal rate of transformation in moving from Point B to Point A is
A. -2/3.
B. -3/4.
C. -1.5.
D. -20.
Answer: A
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Which of the following is TRUE for a profit maximizing monopolist?
A) Marginal cost is always less than average total cost. B) In the long run, the firm's economic profit equals zero. C) In the short run, the firm will shut down if its marginal cost is less than its average variable cost. D) In the short run, the firm can make an economic profit even if its marginal cost is less than its average variable cost.
The _____ shows all of the combinations of risk and return that leaves an investor equally well off from holding either a low-risk or a high-risk investment
a. indifference curve b. expectation c. standard deviation d. correlation coefficient
Which of the following is the largest single source of federal government revenue?
a. payroll tax b. excise taxes c. personal income tax d. corporate income tax
A production function of the form Q = 40 L.75 K.20exhibits ________ in the long run.
A. diminishing returns to the variable input B. decreasing returns to scale C. increasing returns to scale D. constant returns to scale