Marginal rates of technical substitution (MRTS) represent
A) the optimum combinations of inputs.
B) cost-minimizing combinations of inputs.
C) the degree to which one input can replace another without output changing.
D) All of the above
C
Economics
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Rosina Gonzales quit her job in Pennsylvania and moved to California to be close to her family. She is currently looking for work, so she would be considered
A) cyclically unemployed. B) avoidably unemployed. C) frictionally unemployed. D) a discouraged worker. E) not in the labor force because she moved more than 150 miles.
Economics
"A single-price monopoly charges a higher price and produces more output than a perfectly competitive industry." Is the previous statement correct or incorrect? Explain your answer
What will be an ideal response?
Economics