What is production technology?
What will be an ideal response?
Production technology is the quantitative relationship between inputs and outputs. This relationship can be expressed using a production function.
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The smaller the fraction of an investment financed by borrowing,
A) the smaller the potential return and the greater the potential loss on that investment. B) the greater the potential return and potential loss on that investment. C) the greater the potential return and the smaller the potential loss on that investment. D) the smaller the potential return and potential loss on that investment.
Differentiate between consumer’s surplus and producer’s surplus. For a rational consumer, consumer’s surplus will never be a negative number. Why?
What will be an ideal response?