_____ gives the slope of an isocost line where labor (L) and capital (K) are the two inputs measured on the X and Y axes respectively
a. The ratio of the marginal product of capital to the marginal product of labor, with a negative sign,
b. The ratio of price of labor to the price of capital, with a negative sign,
c. The ratio of the price of capital to the price of labor
d. The ratio of the marginal product of labor to the marginal product of capital
B
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Lucinda starts a business consulting company. She makes all the business decisions and bears the risk of running the business. The typical payment for Lucinda's work is ________
A) all the revenue greater than her opportunity cost B) all the revenue greater than the capital investment C) a normal profit D) an economic profit
An imperfectly competitive firm has the following demand curve: Q = 100 - 2P. What is marginal revenue equal to when P = 30?
What will be an ideal response?