A business is employing inputs such that the marginal product of labor is 40 and the marginal product of capital is 90. The price of labor is $20 and the price of capital is $30. If the business wants to minimize costs while keeping output constant, then it should:

Imagine a duopoly in which two firms, A and B, produce the monopoly profit-maximizing output and equally share the economic profit

If firm A increases its output, the market price ________ and total economic profit of the two firms combined ________. A) falls; decreases B) falls; increases C) rises; decreases D) rises; increases E) falls; does not change

After an increase in demand in a constant-cost industry, firms will find themselves with higher average cost curves

Indicate whether the statement is true or false