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LilyGal LilyGal
wrote...
Posts: 349
A week ago

Question 1.

Figure 11-13




Refer to Figure 11-13. The lines shown in the diagram are isocost lines. Which of the following shows an increase in the price of labor while the price of capital remains unchanged?



the movement from BF to BD



the movement from AF to CE



the movement from AF to BD



the movement from BF to CE



Question 2.

Figure 11-13




Refer to Figure 11-13. The lines shown in the diagram are isocost lines. Which of the following shows a decrease in the price of capital while the price of labor remains unchanged?



the movement from AF to BF



the movement from BF to AF



the movement from BF to CE



the movement from BF to BD

Textbook 

InMicro


Edition: 1st
Authors:
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Answer verified by a subject expert
sadeensadeen
wrote...
Posts: 317
A week ago
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Answer 1

the movement from BF to BD



Answer 2

the movement from BF to AF

1

Related Topics

wrote...
A week ago

Question 1.

Figure 11-13




Refer to Figure 11-13. The lines shown in the diagram are isocost lines. Which of the following shows an increase in the firm's total cost while the price of labor and capital remain unchanged?



the movement from CE to BF



the movement from BD to AF



the movement from CE to AF



the movement from BD to CE



Question 2.

Figure 11-13




Refer to Figure 11-13. The lines shown in the diagram are isocost lines. A movement from CE to BD occurs when



the price of capital increases while the price of labor remains unchanged.



the price of capital increases while the price of labor decreases.



the price of labor decreases while the price of capital remains unchanged.



the price of capital decreases while the price of labor increases.

wrote...
A week ago

Answer 1

the movement from CE to BF



Answer 2

the price of capital decreases while the price of labor increases.

wrote...
A week ago
Brilliant
wrote...
A week ago

Question 1.

Figure 11-13




Refer to Figure 11-13. The lines shown in the diagram are isocost lines. If the price of labor is $50 per unit, then along the isocost AF, the total cost



is $500.



is $750.



is $1,250.



cannot be determined without the price of capital.



Question 2.

Figure 11-13




Refer to Figure 11-13. The lines shown in the diagram are isocost lines. If the price of labor is $50 per unit, what is the price of capital along the isocost CE?



$400 per unit



$100 per unit



$25 per unit



insufficient information to answer question

wrote...
A week ago

Answer 1

is $500.



Answer 2

$25 per unit

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