Refer to the figure above. The firm is currently along isocost CD. If the price of labor is $42, then the price of capital is
Group of answer choices
a) $21
b $42
c) $63
d) $84
Refer to the figure above. The firm is currently along isocost CD. If the price of...
Refer to the figure above. The firm's isocost line would shift
from CE to CD if
Group of answer choices
a) the firm's total expenditure on inputs increased.
b) the price of capital increased.
c) the price of labor increased
d) either the price of labor increased or the firm's total
expenditure on inputs increased.
Units of capital BD E 60 80 120 Units of labor We were unable to transcribe this image
Isoquant: Q = 70 Tangency Isocost: TC = $? Figure 1. Isoquant and Isocost Price of L - $20; Price of K = ? : TC = ? 14. Refer to Figure 1. The intercept of the isocost on Kaxis is 10 15 20 33.33 O 33.33 Question 15 1 pts Refer to Figure 1. When total cost is minimized for producing Q=70, the relative productivity ratio of capital to laboris 0 2/1 1/2 4/5 5/4 Question 16 1 pts...
Refer to the figure above. In the $6-$7 price range, the firm
will
Group of answer choices
a)shut down.
b)earn a profit
c)break even
d)continue to operate, but at a loss
b. A representative firm a. The industry МС ATC S AVC 9 7 6 5 D2 DI 10 12 13 15 0 0 Bushels of wheat Bushels of wheat Price per bushel ($) We were unable to transcribe this image
Isoquant: Q = 70 Tangency Isocost: TC = $? Figure 1. Isoquant and Isocost Price of L = $20; Price of K = ?; TC = ? 14. Refer to Figure 1. The intercept of the isocost on k axis is 10 15 20 33.33 Refer to Figure 1. When total cost is minimized for producing Q=70, the relative productivity ratio of capital to laboris O 2/1 1/2 4/5 5/4 17. Refer to Figure 1. It is observed that the...
60 A 60 80 120 Units of labor Figure 7.8 Refer to Figure 7.8 The firm's isocost line could shift from AB to CD if Selected Answer: * the price of capital and labor each decreased by 33%. Correct Answer: the firm's total expenditures increased by 33% or the price of capital and labor each decreased by 25%.
Refer to the figure above. Assume this firm is in a
constant-cost industry. For this firm to be in long-run
equilibrium, the firm must be producing
Group of answer choices
a) q1 units of output.
b) q2 units of output.
c) q3 units of output.
d) an amount that is indeterminate from this information.
Cost curve for a firm in a perfectly competitive industry SRACZ SRMC1 SRAC, SRMC, SRMC3LRAC Price per unit 1 / SRACZ 91 92 93 Units of...
K Isoquant: Q 70 Tangency 8 Isocost: TC - $? 10 Figure 1. Isoquant and Isocost Price of L = $20; Price of K ? ; TC ? Refer to Figure 1. When total cost is minimized for producing Q-70, the relative productivity ratio of capital to labor is 2/1 1/2 4/5 5/4
Refer to the figure above. If Roller Skates Unlimited moves from
isoquant A to isoquant B, the number of roller skates produced
Group of answer choices
a) increases.
b) decreases.
c) remains constant, but Roller Skates Unlimited uses more
capital and labor.
d) remains constant, but input prices have risen.
Isoquants for producing roller skates Units of capital (K) A Units of labor(L) We were unable to transcribe this image
Figure 11.3.1 6) Refer to Figure 11.3.1 above. The
price-discriminating firm earns a higher profit by: 6) A) charging
an average of a high price and a low price over time. B) charging a
lower price to the consumers who acquire the good first. C)
charging a lower price as time goes by. D) charging a higher price
as time goes by
s/Q Pi D,-AR AC-MC MK: D,- AR MR Quantity e: Figure 11.3.1 6) Refe er to Figure 11.3.1...
2. The price of labor is $45 per unit. Use the isocost curve below, to answer these questions: (4 Pts) 160 120 80 40 500 1,000 1,500 Labor (L) The equation for the isocost curve shown in the figure is K- capital is S a. The price of per unit. The total cost associated with this isocost curve is S b. Input combination A is units of input combination A is S units of capital. The total cost of Verify...