Technical efficiency and optimal input proportions are found when:
A) MPX/PY = MPY/PX.
B) PX/PY = MPY/MPX.
C) MRPX = MRPY.
D) none of these.
Correct Answer:
Verified
Q1: If PX = €60,000, MPX = 300
Q2: When PX = €50, MPX = 5
Q4: For a continuous total product function, average
Q5: The law of diminishing returns implies that:
A)a
Q6: The production function Q = -64X0.5Y0.4 exhibits:
A)constant
Q7: The marginal revenue product concept describes the:
A)profit
Q8: Economic efficiency and optimal input use is
Q9: If PX = €75,000, MPX = 300
Q10: An irrational employment policy is indicated if
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