11.A firm\'s expansion path is (1) A) the firm\'s production function. B) a curv

Question

11.A firm's expansion path is (1) A) the firm's production function. B) a curve that makes the product each output. C) a curve that shows the c level inal product of the last unit of each input equal for -cost combination of inputs needed to produce each of output for given input prices. none of the above . In the elastic range of the 2. Consider a straight-line demand curve for a monopolist demand curve, (1) A) The marginal revenue is negative. B) The marginal revenue is zero C The marginal revenue is positive. None of the above. 13.The coit

Explanation / Answer

Ans 11)

Expansing path is the linne that reflects the least possible combination of output for given factor prices

hence option C is correct answer

Asn 12)

Decrease in price will increase the revenue in monopolist case therefore option D is correct

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