Why must an isoquant be downward sloping when both labor and capital have positive marginal products?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (9 reviews)
If the marginal product of labor is positive then when we ...View the full answer
Answered By
Branice Buyengo Ajevi
I have been teaching for the last 5 years which has strengthened my interaction with students of different level.
4.30+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
Fixed amount of Land for Oil Drilling: Suppose that your oil company is part of a competitive industry and is using three rather than two inputslabor , capital k and land L to produce barrels of...
-
1. The production function illustrates the relationship between _______ and _______________. 2. With the stock of capital fixed, output increases with labor input, but at a rate that...
-
Kendra is the owner of Wholesome Farms, a commercial dairy. Kendra employs labor, land, and capital. In her operations, Kendra can substitute between the amount of labor she employs and the amount of...
-
Write a program that displays the color study shown at right, which gives Albers squares corresponding to each of the 256 levels of blue (blue-to-white in row major order) and gray (black-to-white in...
-
Suppose that someone tells you that an attribute that is part of a composite primary key is also a candidate key. How would you respond to that statement?
-
A collar that can slide on a vertical rod is subjected to the three forces shown. Determine (a) The value of the angle α for which the resultant of the three forces is horizontal, (b)...
-
Is the level of measurement of the 641 individual responses nominal, ordinal, interval, or ratio? Why? Refer to the table in the margin, which summarizes results from 641 people who responded to a...
-
Suppose that a government has had several years of general-fund surpluses. Is this necessarily a sign of nancial strength?
-
Think about a job you've worked in or a business you've patronized that had poor operations, organization, or teamwork in some way.It can be a disorganized restaurant kitchen, a bad filing system, an...
-
Le Monde Company is a manufacturer of chemicals for various purposes. One of the processes used by Le Monde produces HTP3, a chemical used in hot tubs and swimming pools; PST4, a chemical used in...
-
What is the difference between diminishing total returns to an input and diminishing marginal returns to an input? Can a total product function exhibit diminishing marginal returns but not...
-
Could the isoquants corresponding to two different levels of output ever cross?
-
Water is pumped through a heat exchanger consisting of tubes 8 mm in diameter and 6 m long. The velocity in each tube is 12 cm/s. The water temperature increases from 20C at the entrance to 30C at...
-
State the predicted height, taken from your graph, of the ping pong ball bounce when dropped from 4 m. Then draw a sketch of the ping pong ball at the top of its bounce (maximum height) and give your...
-
The remainder when the positive integer m is divided by n is r. What is the remainder when 2m is divided by 2n?
-
Yet Again Company's recycled paper towels sell for $9.95 per unit and have a contribution margin of $3.14. The company is financed with 40% debt at a cost of 9% before tax, and a tax rate of 33%. If...
-
Golden Fritter Corporation has Days Inventory Outstanding of 75 days, Days Sales Outstanding of 30 days, and Days Payables Outstanding of 15 days. What is the firm's Cash Conversion Cycle?
-
Explain these graphs with examples FIGURE 1A.4 Changing Slopes along Cur 0 Y a. Slope: positive and decreasing b. Slope: positive and increasing d. Slope: negative and decreasing X 0 Y 0 X 0 e....
-
Let X 1 ,X 2 ,X 3 be iid with common pdf f(x) = exp(x), 0 < x < , zero elsewhere. Evaluate: (a) P(X 1 < X 2 |X 1 < 2X 2 ). (b) P(X 1 < X 2 < X 3 |X 3 < 1).
-
Provide a few individual examples who revealed what aspects of emotional intelligence?
-
1. Book Pricing: Publishers versus Authors. Consider the problem of setting a price for a book. The marginal cost of production is constant at $20 per book. The publisher knows from experience that...
-
1. Book Pricing: Publishers versus Authors. Consider the problem of setting a price for a book. The marginal cost of production is constant at $20 per book. The publisher knows from experience that...
-
1. A monopoly is inefficient solely because the monopolist gets a profit at the expense of consumers. ____________ (True/False) 2. To show the deadweight loss from monopoly, we compare the monopoly...
-
Natural Mosaic. Natural Mosaic Company (U.S.) is considering investing Rs54,000,000 in India to create a wholly owned tile manufacturing plant to export to the European market. After five years, the...
-
Base Electronics buys 2,000 shares of stock in Blue Mission Company for $20 per share on January 2 of the current year. Base Electronics does not have the ability to participate in the decisions of...
-
Chan and Fatina are forming a partnership. Chan is investing a building that has a market value of RM80,000. However, the building carries a RM56,000 mortgage that will be assumed by the partnership....
Study smarter with the SolutionInn App