A Cost-Minimizing Firm Using Two Inputs, X and Y, Will

question 116

Multiple Choice

A cost-minimizing firm using two inputs, x and y, will employ inputs so that

• A)MP x = MP y.
• B)Pₓ / MP y = Pᵧ / MP x.
• C)MP x/ Pₓ = MP y / Pᵧ .
• D)Pₓ = Pᵧ .

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Definitions:

Wilcoxon Rank Sum Test

A non-parametric statistical test used to compare two independent samples to determine if they come from the same population.

Wilcoxon Rank Sum Test

A nonparametric statistical test used to compare two independent groups to assess whether their populations have the same distribution.

Alternative Hypothesis

The hypothesis that proposes a difference or effect, in contrast to the null hypothesis, which assumes no effect or difference.

Significance Level

The probability of rejecting the null hypothesis in a statistical test when it is actually true, often denoted by alpha (α).