A graph showing all the combinations of capital and labor that can used to produce a given amount of output is ?

Related Mcqs:

Which of the following is most likely to be a variable cost for a firm ?

A. The franchiser’s fee that a restaurant must pay to the national restaurant chain B. The payroll taxes that are paid on employee wages. C. The monthly rent on office space that it leased for a year D. The interest payments made on loans....

Engineers for the All-Terrain Bike Company have determined that a 15% increase in all inputs will cause a 15% increase in output Assuming that input prices remain constant, you correctly deduce that such a change will cause ________ as output increases?

A. average costs to remain constant B. average costs to decrease C. average costs to increase D. marginal costs to increase...

The normal rate of profit for relatively risk-free firms will be _________ the interest rate on risk-free government bonds?

A. approximately one-half B. smaller than C. larger than D. approximately equal to...

A firm in perfectly competitive industry is producing 50 units, its profit-maximising quantity. Industry price is £2 and total fixed costs and total variable cost are £25 and £40 respectively. The firm’s economic profit is ?

A. £35 B. £15 C. £30 D. £60...

An industry that has a relatively small number of firms that dominate the market is called ?

A. a colluding industry B. a merged industry C. a concentrated industry D. a natural monopoly...