What is the cost-minimizing equilibrium condition?
What will be an ideal response?
The cost-minimizing equilibrium condition is for the slope of the isoquant (-MPL/MPK) to be equal to the slope of the isocost line (-PL/PK).
Economics
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Where the consumption function intersects the 45-degree line
A) consumption will equal only autonomous consumption. B) the average propensity to consume is 0.5. C) savings will be negative. D) saving will be zero.
Economics
Marginal social costs are the sum of marginal private costs and incidental costs
a. True b. False Indicate whether the statement is true or false
Economics