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mbowdish mbowdish
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Posts: 356
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A week ago

Question 1.

Figure 11-12




Refer to Figure 11-12. The movement from isoquant T to isoquant U depicts



an increase in labor usage holding capital and output constant.



an increase in output.



an increase in the cost of production.



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?



The firm produces a lower output level when it uses input combination d compared to input combination a.



The firm produces a higher output level when it uses input combination b compared to input combination a.



The firm produces the same output level when it uses input combination a or c.



The firm incurs the same total cost when it uses input combination a or c to produce a given quantity of output.

Textbook 

InMicro


Edition: 1st
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Kailz1218Kailz1218
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Posts: 344
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A week ago
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Answer 1

an increase in output.



Answer 2

The firm incurs the same total cost when it uses input combination a or c to produce a given quantity of output.

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