If we take the production function and hold the level of output constant, allowing the amounts of capital and labor to vary, the curve that is traced out is called: Group of answer choices none of these options is correct the average product. an isoquant. the total product. the marginal product.

Banana computers has decided to procure processing chips required for its laptops from external suppliers instead of manufacturing them in their own facilities. how will this decision affect the firm? a. the firm will be protected against the principal-agent problem. b. the firm's administrative costs will be low because of necessary bureaucracy. c. the firm will have more flexibility in purchasing and comparing prices of goods and services. d. the firm will have high-powered incentives, such as hourly wages and salaries.