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A curve that shows all the combinations of two inputs, such as labor and capital, that will produce ...

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A curve that shows all the combinations of two inputs, such as labor and capital, that will produce ...

Question 1.

Figure 11-15

Refer to Figure 11-15. Suppose Hilda produces 100 gooseberry pies. What is the marginal rate of technical substitution of labor for capital when labor is increased from 10 to 20 hours?

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1 unit of capital

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10 units of capital

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14 units of capital

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24 units of capital

Question 2.

A curve that shows all the combinations of two inputs, such as labor and capital, that will produce the same level of output is called

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an isoquant.

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an optimal input combination curve.

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a budget line.

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an isocost line

Textbook

InMicro

Edition: 1^st

Authors: Hubbard, O'Brien

Read 133 times

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dwilliams11 Author

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Thanks for your help!!

branbran2k16

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Correct

jasonbourne

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Brilliant ツ

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