If ΔY2P2 > ΔY1/P1 then:
A) the firm could increase revenue by moving into Y2
B) the firm could increase revenue by moving out of Y2
C) the firm could increase revenue by remaining at the same output combination
D) not enough information to answer
Correct Answer:
Verified
Q39: The MRPS is:
A) the rate at that
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
Q45: If ΔY2/ΔY1 > ΔY2/ΔY1 then:
A) the firm
Q46: In the real world, agribusiness firms:
A) cannot
Q47: A change in relative prices will affect
Q48: Technological change will affect the:
A) PPF
B) isorevenue
Q49: A drought in the Midwestern US will
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