Aplia Economics?

Question

Which of the following best sums up the marginal rule for optimal input proportions?

A.A firm is most productive when it only uses its most productive input.

B.For a given output quantity, the cost-minimizing combination of inputs occurs when an additional factor unit of any input would result in the same amount of output.

C.For a given output quantity, the cost-minimizing combination of inputs occurs when the increased output achieved by spending an additional dollar on any factor is the same.

D.A firm achieves its lowest average costs by choosing an optimal output quantity.

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Next Q = screenshot

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Screenshot

http://img74.imageshack.us/img74/1985/econ2iw9.jpg

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Which of the following statements best describes inputs in the long run?

A.Variable inputs become fixed inputs due to depreciation

B.Fixed inputs are no longer used

C.All inputs are variable

D.All inputs are fixed.

Answer 1

C.For a given output quantity, the cost-minimizing combination of inputs occurs when the increased output achieved by spending an additional dollar on any factor is the same.

B. $5,000

A. Two

C.All inputs are variable