An isoquant indicates different combinations of
A) two inputs that can be purchased for the same amount of money.
B) two inputs that can produce the same amount of output.
C) output that can be produced with the same amount of input.
D) output that cost the same amount to produce.
B
Economics
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If one person's consumption of a good means that no one else can consume it,
a. that good is called a pure public good b. production of that good creates a negative externality c. consumption of that good creates a positive externality d. the good is said to be excludable e. the good is said to be rival
Economics
Steel producers lobbying to keep imports out is an example of:
A. objective cost-benefit analysis. B. rational ignorance. C. rent-seeking behavior. D. corruption.
Economics