Figure 7.3.4 -At the Optimum Combination of Two Inputs

question 95

Multiple Choice

Figure 7.3.4
-At the optimum combination of two inputs,

• A) the slopes of the isoquant and isocost curves are equal.
• B) costs are minimized for the production of a given output.
• C) the marginal rate of technical substitution equals the ratio of input prices.
• D) all of the above
• E) A and C only

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Definitions:

Methods

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Journal Entries

The method by which financial transactions are recorded in the accounting records, detailing the accounts affected and the amounts.

Bonds at Par

A situation where bonds are issued or traded at their face value or principal amount.

Bond Interest

The periodic payment made to the holders of a bond, representing a fixed income for the bond's duration.