A firm is operating such that the marginal product of labor is 10 and the marginal product of capital is 20. The firm is minimizing its costs only if
A. the wage is half the rental rate.
B. since capital is more productive than labor, the firm must be minimizing cost.
C. the rental rate is half the wage.
D. Given this information the firm can't be minimizing cost under any circumstances.
Answer: A
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Until 1980, the national debt was mostly the result of: a. wartime borrowing
b. inflation. c. bad monetary policy. d. wasteful Congressional spending. e. Social Security obligations.
Which of the following is true? a. U.S. imports are considered a credit item in the balance of payment, because the dollars sold to buy the necessary foreign currency add to foreign claims against U.S. buyers. b. When the U.S. runs a trade deficit in goods and services with the rest of the world, the rest of the world must be running a trade surplus in goods and services with the U.S. c. When
the U.S. runs a trade deficit in goods, it must run a trade surplus in services. d. None of the above is true.
The major difference between government and governance is that governance is
A. institutional only. B. institutional and networked. C. institutional and global. D. networked and privatized.
Refer to the information provided in Scenario 36.3 below to answer the question(s) that follow.SCENARIO 36.3: Consider a local high school that has 300 sophomores considered to be at-risk students. A privately-sponsored after-school sports program has been established to try to help at-risk students succeed in finishing high school. The local government wants to know if this program reduces the students' probability of dropping out of high school before the end of their junior year, and decides to randomly sample 150 of the 300 at-risk sophomores and invite them to attend the after-school program at no cost. 100 students accept the invitation, and by the end of their junior year, the drop-out percentage of the 100 students who attended the program was lower than the drop-out percentage of
the 200 students who did not attend the program. Refer to Scenario 36.3. Based on the information in the scenario, the 100 students who accepted the offer to attend the after-school program is an example of A. positive correlation. B. survivor bias. C. a random sample. D. selection bias.