1. If marginal product is decreasing, then average product must also be decreasing. 2. For a fixed-proportion technology, inputs cannot be substituted for each other in production. 3. The marginal ...
Econometrica publishes original articles in all branches of economics - theoretical and empirical, abstract and applied, providing wide-ranging coverage across the subject area. It promotes studies ...
1. Textbook problems # 2, 5, 7, 8 from Chapter 8. Textbook problems # 9, 10, 11 from Chapter 9. 2. True/ False Questions. 1. Since long-run economic profits for a competitive firm are always zero, it ...
Some results have been hidden because they may be inaccessible to you
Show inaccessible results
Feedback