Solved

The Figure Below Shows the Isocost Lines and the Isoquant

Question 1

Multiple Choice

The figure below shows the isocost lines and the isoquant map for a firm producing golf tees.
The figure below shows the isocost lines and the isoquant map for a firm producing golf tees. FIGURE 8- 6 -Refer to Figure 8- 6.Suppose this firm is producing 3000 golf tees and is at point F on the isoquant map.Which of the following is true? A) MPK/MPL is greater than 5/2. B) MPK/MPL is equal to PK/PL . C) MPK/MPL is equal to 2/5. D) MPL/MPK is greater than 5/2. E) MPK/MPL is equal to 5/2. FIGURE 8- 6
-Refer to Figure 8- 6.Suppose this firm is producing 3000 golf tees and is at point F on the isoquant map.Which of the following is true?


A) MPK/MPL is greater than 5/2.
B) MPK/MPL is equal to PK/PL .
C) MPK/MPL is equal to 2/5.
D) MPL/MPK is greater than 5/2.
E) MPK/MPL is equal to 5/2.

Correct Answer:

verifed

Verified

Related Questions

Q2: The slope of an isoquant measures
A)the average

Q3: Which of the following conditions indicate cost

Q6: The slope of a firm's isocost line

Q7: In the long run,the law of diminishing

Q8: "The bigger the volume,the lower the cost,and

Q9: The creation of a new product is

Q11: Consider a firm in the long run

Q19: TABLE 8-1
TABLE 8-1 </p></div><svg width=

Q80: The figure below shows a family of

Q121: The figure below shows the isocost lines

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents