QUESTION 34
The MRTS of labor for capital tends to be higher
the larger the quantity of capital already employed |
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the lower the quantity of capital already employed |
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when a firm is choosing baskets that are inefficient |
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in the short run compared to the long run |
QUESTION 35
The object of diversification is
to reduce risk and fluctuations in income. |
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to reduce risk, but not to reduce fluctuations in income. |
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to reduce fluctuations in income, but not to reduce risk. |
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neither to reduce risk, nor to reduce fluctuations in income. |
QUESTION 36
The rate at which one input can be reduced per additional unit of the other input, while holding output constant, is measured by the
marginal rate of substitution. |
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marginal rate of technical substitution. |
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slope of the isocost curve. |
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average product of the input. |
Ans34) the correct option is a) the larger the quantity of capital already employed
Ans35) the correct option is a) to reduce risk and fluctuations in income.
Ans36) the correct option is b) marginal rate of technical substitution
QUESTION 34 The MRTS of labor for capital tends to be higher the larger the quantity of capital already employed...
QUESTION 34 The MRTS of labor for capital tends to be higher the larger the quantity of capital already employed the lower the quantity of capital already employed when a firm is choosing baskets that are inefficient in the short run compared to the long run
QUESTION 34 The MRTS of labor for capital tends to be higher the larger the quantity of capital already employed the lower the quantity of capital already'employed when a firm is choosing baskets that are inefficient in the short run compared to the long run
QUESTION 34 The MRTS of labor for capital tends to be higher A) the larger the quantity of capital already employed B) the lower the quantity of capital already employed C)when a firm is choosing baskets that are inefficient D)in the short run compared to the long run
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