A Firm Uses Two Inputs, a and B

question 61

Multiple Choice

A firm uses two inputs, A and B.At its optimal choice of input proportions,

• A)MRP of A = MRP of B.
• B)MRP_A/P_A = MRP_B/P_B.
• C)MPP of A = MPP of B.
• D)All of the above are correct.

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Definitions:

Normal Chow

A standard diet provided to laboratory animals that meets their nutritional needs without any specific modifications for experimental purposes.

Independent Variable

In an experiment, the variable that is manipulated or changed by the researcher to observe its effects on the dependent variable.

Social Desirability Bias

A type of response bias in surveys or questionnaires where respondents answer in a manner that will be viewed favorably by others, potentially skewing results.

Confederate

An individual who is part of an experiment but pretends to be a participant while working for the researcher, often used to manipulate social interactions.