Which of the following is the correct statement of the marginal rule for optimal input proportions? The input proportion is optimal when
a. PA = PB.
b. MPPA = MPPB.
c. PA × MPPA = PB × MPPB.
d. PA/PB = MPPA/MPPB.
d
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Use the following consumption schedule to answer the next question.
At income level 1, the amount of saving is
A. negative. B. positive. C. zero. D. not measurable.
The federal budget is prepared and passed by
A. the president. B. Congress. C. the president and Congress. D. neither the president nor Congress.
Setting up outlet malls in rural highways is an example of
A. reduced consumer transactions cost. B. increased consumer transactions cost. C. increased producer transactions cost. D. reduced producer transactions cost.
Maximum Feasible Hourly Production Rates (in Tons) of EitherKnives or Forks Using All Available ResourcesProductCountry AlphaCountry BetaKnives93Forks612Use the above table. Assuming constant opportunity costs, the opportunity cost of producing knives in country Alpha is ________, and the opportunity cost of producing knives in country Beta is ________.
A. 2 forks; 0.33 knife B. 0.67 fork; 4 forks C. 1.5 forks; 0.25 fork D. 0.5 knife; 3 forks