A consumer values a car at $525,00 . and a producer values the same car at $485,000 . If sales tax is 8% and is levied on the buyer, then the buyers top dollar price is

All the production points that lie ________ the total product curve are attainable and ________

A) above; efficient B) above; inefficient C) below; efficient D) below; inefficient

The marginal rate of technical substitution is equal to:

A) the absolute value of the slope of an isoquant. B) the ratio of the marginal products of the inputs. C) the ratio of the prices of the inputs. D) all of the above E) A and B only