As the capital stock reduces , we would expect the long-run aggregate supply curve to

Max has allocated $100 toward meats for his barbecue. His budget line and indifference map are shown in the above figure. If Max is currently at point e,

A) his MRS is less than the trade-off offered by the market. B) he is willing to give up more burger than he has to, given market prices. C) he is not maximizing his utility. D) All of the above.

For given input prices, isocosts closer to the origin are associated with:

A. lower costs. B. higher costs. C. initially lower, then higher costs. D. the same costs.