Suppose that the wage is $2 per hour and that capital also rents for $2 per hour. the slope of the isocost line is then equal to negative 11. using resulting slope value along with the above formula for the isoquant slope, compute the firm's optimal input ratio at any cost-minimizing point (recall that the isoquant and isocost slopes are equal at a tangency point). this ratio is 11 (enter a single integer). now suppose that the firm wants to produce one widget (q = 1). using your previous result on the optimal input ratio, you can compute the input levels that the firm uses to produce this output. these levels are k = 11 and l = 11. the cost of this input bundle is $44, which gives c(1) (the cost function c(q) evaluated at q=1).

Suppose that each country completely specializes in the production of the good in which it has a comparative advantage, producing only that good. in this case, the country that produces jeans will produce million pairs per week, and the country that produces corn will produce million bushels per week.

E11-2 (multiple choice) identify the best answer for each of the following: which of the following statements about internal service fund liabilities is false? internal service funds may report both current and long-term liabilities. internal service funds may not issue bonds for financing purposes. internal service funds may report contingent liabilities. due to other funds would be reported as a current liability

Craig complained to his friend jess that a class was too hard and he believed that the teacher was not being fair with his grading standards. jess replied, "craig, you really have an attitude problem." what is the relationship between the manner that the term attitude is used in common conversation and the how it is defined in consumer behavior? there is no relationship. common usage is not the same as attitudes as seen by the researchers who study consumer behavior. the term attitude is widely used in popular culture in much the same way it is used in studying consumer behavior. they are different in that popular culture does not recognize that attitudes are temporary. otherwise the usage is the same. they are similar except that popular culture assumes that attitudes are related to beliefs, and research scientists have shown that there is no such relationship.