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dwilliams11 dwilliams11
wrote...
Posts: 306
3 days 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


Edition: 1st
Authors:
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abonaccorso1abonaccorso1
wrote...
Posts: 314
3 days ago
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Answer 1

1 unit of capital



Answer 2

an isoquant.

1

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