The MRPS is:
A) the rate at that one input must be decreased as production of the other input is increased
B) the rate at that one output must be decreased as production of the other output is increased
C) the slope of the isorevenue line
D) the slope of the isoquant
Correct Answer:
Verified
Q34: If all resources are used to produce
Q35: Productive efficiency is found:
A) on PPF
B) on
Q36: Technological change in the good located on
Q37: Technological change in agriculture is a result
Q38: If the price of an output increases,
Q40: In equilibrium:
A) MRPS = slope of isorevenue
Q41: The MRPS is equal to:
A) ΔY2/ΔY1
B) ΔX2/ΔX1
C)
Q42: The isorevenue line is:
A) a line depicting
Q43: An isorevenue line is:
A) convex to the
Q44: If ΔY2P2 > ΔY1/P1 then:
A) the
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