The New York Stock Exchange is an auction market in which the role of auctioneers is played by

Crops produced entirely for the market are known as

(a) basic crops. (b) mixed crops. (c) hybrid crops. (d) cash crops.

Suppose firms A and B each make T-shirts. Firm A's production function is q = L0.5K0.5. Firm B's production function is q = 1.2 ? L0.5K0.5

If the two firms each hire the same amounts of capital and labor, compare the two firms in terms of APL and MPL.