Refer to Figure 7.3. Suppose a firm moves along the isoquant from point a to point b. The rate of substitution for labor with capital is:

Hughes and Cain (2011) suggest that an event or series of events occurring in 1763 doomed British policy. What happened?

(a) A series of oppressive taxes (b) A tightening and more rigorous enforcement of the Navigation Acts (c) A proclamation which limited trans-Appalachian settlement to lands once granted to colonists by crown approval (d) An act that gave the Quebec province all the land west of the Ohio River

In the strategic sequential labor negotiation game:

a. The first mover has an advantage b. The second mover has an advantage c. There is no advantage to either mover d. None of the above