The slope of an isocost line is equal to:
A. -(wage rate/rental rate of capital).
B. (wage rate/rental rate of capital).
C. -(rental rate of capital/wage rate).
D. (rental rate of capital/wage rate).
A. -(wage rate/rental rate of capital).
You might also like to view...
When using the economic efficiency approach to controlling air and water pollution, the government
a. forces each firm to produce emissions in the most cost efficient manner irrespective of its cost structure b. offers each firm the flexibility to reduce emissions in the most cost effective manner, given its unique cost structure c. offers each firm the option of choosing between the cost minimizing emission level and the profit maximizing emission level d. provides each firm with some fixed rules and then requires them to maximize profits given these fixed rules e. offers each firm the option of using marginal cost pricing and average cost pricing when determining the optimum emissions levels
Which of the following was the first federal legislation to outlaw discrimination based on race, religion, or gender?
a. Civil Rights Act of 1964 b. Civil Rights Act of 1991 c. Emancipation Proclamation d. Equal Pay Act of 1963
"As we consume increasing amounts of a good or service, we derive diminishing utility from each additional unit consumed" defines ______________________.
Fill in the blank(s) with the appropriate word(s).
The goals of equity and ________________ are sometimes in conflict.
A. fairness B. efficiency C. capital