An upward sloping isoquant
A) can be derived from a production function with one input
B) can be derived from a production function that uses more than one input where reductions in the use of any input always reduces output
C) cannot be derived from a production function when a firm is assumed to maximize profits
D) can be derived whenever one input to production is available at zero cost to the firm
E) none of the above
C
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A price ceiling imposed below the equilibrium price ______
A. creates a black market in which the price might equal or exceed the equilibrium price B. creates a black market in which the price equals the price ceiling C. leads to increased search activity, which reduces the shortage of the good D. increases the demand for the good, which makes the shortage even larger
Government regulations to insure the safety of bank deposits and to control the money supply include
a. limitations on the types and quantities of assets in which banks may invest. b. elimination of the need for required reserves. c. setting interest rate ceilings on savings and money market deposit accounts. d. All of the above are correct.