Order the answer to: 4) Give the following Table 1: Table 1 4) Give the following Table 1: Table 1 Using Techniques Units

Academic Help economy Order the answer to: 4) Give the following Table 1: Table 1 4) Give the following Table 1: Table 1 Using Techniques Units

economy

Order the answer to: 4) Give the following Table 1: Table 1 4) Give the following Table 1: Table 1 Using Techniques Units

Question 4) Give the following Table 1: Table 1 Using Techniques Units of Variable Inputs Produce IL K 1 unit of output 8 A 8 12 2 units of output A 14 12 B 8 20 3 units of output A 12 B 12 22 And given that price of labor (L) is $5 per unit and price of capital (K) is $10 per unit: What production technique should this firm use to produce 2 units of output? A) Bedustion technique A B) roduction technique B C) The firm is indifferent between production technique A and production technique B D) It is impossible to determine if the firm should select production technique A or B because total fixed costs are not given 5) What happens when the marginal cost curve is below the average variable cost curve? A) axerage variable cost is increasing B) average variable cost is decreasing. C) axerage variable cost is constant. D) marginal cost is increasing 6) What is special about an imperfectly competitive industry? A) a single firm has no control over the price of its output. B) a single firm has some control over the price of its output C) a single firm will be able to sell all of its output at whatever price it wants to charge D) the government will always regulate the output price.
Subject economy
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