A firm is defined as
A) a president,some vice presidents,and some employees.
B) any organization that wants to make a profit.
C) any accumulation of productive assets.
D) any organization that turns inputs into outputs.
Correct Answer:
Verified
Q11: If Q = K2L2 the MPL is
A)constant
B)diminishing
C)increasing
Q12: If production is given by Q =
Q13: Q14: When isoquants get progressively further apart there Q15: If Q = K1/3L2 the MPK is Q17: If production is given by Q = Q18: Suppose electricity (E)can be produced with coal Q19: If Q = K1/3L2 the MPL is Q20: If Q = K1/2L1/2 the MPL is Q21: If more and more labor is employed![]()
A)constant
B)diminishing
C)increasing
A)constant
B)diminishing
C)increasing
A)constant
B)increasing
C)diminishing
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