Refer to Table 21.5:Table 21.5QTFCTVCTCAVCMC0  15--1  23  2    43 15   The total variable cost of the first unit of output in Table 21.5 is

Which of the following is NOT an expression for the cost minimizing combination of inputs?

A) MRTS = MPL /MPK B) MPL/w = MPK/r C) MRTS = w/r D) MPL/MPK = w/r E) none of the above

According to marginal analysis, you should spend more time studying economics if the extra benefit from an additional hour of study:

a. is positive. b. outweighs the extra cost. c. exceeds the benefits of the previous hour of study. d. will raise your exam score.