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dwilliams11 dwilliams11
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4 years ago

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?



▸

1 unit of capital



▸

10 units of capital



▸

14 units of capital



▸

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



▸

an isoquant.



▸

an optimal input combination curve.



▸

a budget line.



▸

an isocost line

Textbook 
InMicro

InMicro


Edition: 1st
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abonaccorso1abonaccorso1
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dwilliams11 Author
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4 years ago
This calls for a celebration Person Raising Both Hands in Celebration
Butwhy
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Yesterday
Good timing, thanks!
elizabetheldrid
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2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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