Question: 2. how does the maximum number of input be compute? a. dividing the total outlay with the cost of the input b. dividing the total

2. how does the maximum number of input be compute? a. dividing the total outlay with the cost of the input

b. dividing the total revenue with the total cost of inputs

c. dividing the total cost with the total variable input

d. all of the foregoing

3. What does the slope of the isoquant curve denote?

a. proportional relationship between the inputs

b. indirect relationship between the capital and labor inputs

c. direct relationship between the capital and labor

d. both b and c only

4. When does the producers equilibrium would exist?

a. tangency point between variable cost curve and total cost curve

b. tangency point between marginal cost curve and total cost curve

c. tangency point betweeb isoquant curve and isocost line

d. within the isoquant and isocost curve

e. both b and c only

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