The slope of the indifference curve at any point is equal to the . a. price of the good on x-axis divided by the price of the good on the y-axis
b. price of the good on y-axis divided by the price of the good on the x-axis
c. marginal utility of the good on y-axis divided by the marginal utility of the good on the x-axis
d. marginal utility of the good on x-axis divided by the marginal utility of the good on the y-axis

As manager of kids skids, meghan wants to develop her relationship management skills. in order to do this, she learns how to

Afirm’s production function is represented by q(m,r) = 4m 3/4r1/3, where q denotes output, m raw materials, and r robots. the firm is currently using 6 units of raw materials and 12 robots. according to the mrts, in order to maintain its output level the firm would need to give up 2 robots if it adds 9 units of raw materials. (a) true (b) false

Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.