A ____ is a graph whose axes show the quantities of two inputs that are used to produce some output

a. production indifference map
b. two-variable diagram
c. scalar diagram
d. time-series graph

a

Economics

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Okun's Law states that

A) there is a relationship between the unemployment rate, real GDP, and potential GDP. B) supply creates its own demand. C) as the unemployment rate rises, the inflation rate falls. D) a higher inflation rate leads to a higher nominal interest rate. E) as the real wage rate falls, the quantity of labor demanded increases.

Economics

When Jack consumes the first bottle of water, his utility increases by 20 utils. The second bottle of water increases his utility by 18 utils, and the third bottle of water increases his utility by 15 utils. This implies that the marginal utility of the second bottle of water is _____

a. 15 utils b. 18 utils c. 20 utils d. 24 utils

Economics