The marginal rate of technical substitution at any particular labor-capital bundle is
A) the slope of the isoquant.
B) the average product of labor relative to the average product of capital.
C) the wage relative to the cost of capital.
D) the slope of the indifference curve.
E) the ratio of labor to capital.
Correct Answer:
Verified
Q1: The elasticity of substitution is the
A) change
Q2: Labor demand is more elastic the greater
Q3: The production function relates
A) factor prices to
Q4: What is the most accurate description of
Q5: Labor demand is more elastic
A) the greater
Q7: Ally owns a shoe store. The market
Q8: At a wage of $25 per hour,
Q9: What is an example of the substitution
Q10: Why is the short run labor demand
Q11: At what point should a firm stop
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