If the price of one input changes, generally the firm will change its use of both inputs
a. True
b. False
Indicate whether the statement is true or false
True
Economics
You might also like to view...
Refer to Figure 7.1. If Angus chooses to earn the most money and Dudley does nothing, Dudley will receive a daily payoff of
A) $100. B) $350. C) $550. D) $700.
Economics
The price of a new textbook increased from $60 to $75 in one year, while the price of a used textbook increased by 25 percent. What happened to the relative price of a used textbook?
A) It increased by 25 percent. B) It increased by 10 percent. C) It remained constant. D) It can't be determined without knowing the nominal price of the used textbook in at least one of the years.
Economics