Title: Refer to Figure 11-12. The movement from isoquant T to isoquant U depicts
Post by: mbowdish on Oct 9, 2019
Question 1.
Figure 11-12
Refer to Figure 11-12. The movement from isoquant T to isoquant U depicts
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an increase in labor usage holding capital and output constant.
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an increase in output.
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an increase in the cost of production.
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a change in preferences with regards to input usage.
Question 2.
Figure 11-12
Refer to Figure 11-12. Which of the following statements about the input combinations shown in the diagram is false?
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The firm produces a lower output level when it uses input combination d compared to input combination a.
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The firm produces a higher output level when it uses input combination b compared to input combination a.
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The firm produces the same output level when it uses input combination a or c.
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The firm incurs the same total cost when it uses input combination a or c to produce a given quantity of output.
Title: Refer to Figure 11-12. The movement from isoquant T to isoquant U depicts
Post by: Kailz1218 on Oct 9, 2019
Title: Refer to Figure 11-12. The movement from isoquant T to isoquant U depicts
Post by: mbowdish on Oct 9, 2019