Economies of scope is when a firm obtains a production advantage from producing more than one product
Indicate whether the statement is true or false
True
Economics
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At the XYZ Co, a unit of capital costs 3 times as much as a unit of labor. If the isoquants are convex, and the firm does not change its input mix in the long run, we can conclude that
A) MPK = 3 ? MPL. B) the firm will not hire any capital. C) the firm will hire 3 times as much labor as capital. D) the firm will hire 3 times as much capital as labor.
Economics
Based on this consumer surplus graph, which glass of iced tea gives Emily the greatest consumer surplus?
a. the first
b. the second
c. the third
d. the fourth
Economics