The combination of inputs is optimal Options: A . &nbspat points of tangency between isoquants and isocosts B . &nbspif the marginal revenue product is equal to the marginal resource cost for all inputs C . &nbspif the marginal rate of technical substitution between every pair of inputs is equal to the ratio of the prices of those inputs D . &nbspAll of the above are correct.

The combination of inputs is optimal

Question

The combination of inputs is optimal

Options:

A . at points of tangency between isoquants and isocosts

B . if the marginal revenue product is equal to the marginal resource cost for all inputs

C . if the marginal rate of technical substitution between every pair of inputs is equal to the ratio of the prices of those inputs

D . All of the above are correct.

Answer: Option D
:
D
All options are correct.

Was this answer helpful ?

Next Question

Question 1. A line that connects all points where the marginal rate of technical substitution is equal to the ratio of input prices ....equal to the ratio of input prices is called the

Question 2. If the marginal product of labor is 2, the marginal product of capital is 4, the wage rate is INR 3, the rental pri....price of output is INR 1.50, then the firm should

Question 3. Labour is hirable but you cannot hire:....

Question 4. ___ is that period of time in which some factors are fixed and some are variable.....

Question 5. In the ___,changes in all the factors of production is possible.....

Question 6. In short period there is no change in ___factors.....

Question 7. Returns to a factor refers to the resultant increase in the total product when only one factor is increased, keeping all....one factor is increased, keeping all the other factors constant.

Question 8. Productivity basically measures the ratio of total output to a weighted average of inputs.....

Question 9. The point of inflection on the total product curve corresponds to the level of output where....

Question 10. Which of the following input factor takes risk, innovates, and coordinates:....

Chapter 1 - GLOBAL STEEL SCENARIO & INDIAN STEEL INDUSTRY Part 1 : (13-04-2024) INDUSTRY AND COMPANY AWARENESS (ICA)

Direction Sense Test Part 1 Reasoning (Hindi)

Chapter 1 - RMHP / OHP / OB & BP Part 1 : (14-02-2024) GPOE

Cube & Cuboid Part 1 Reasoning (Hindi)

Data Interpretation (DI) Basic Concept Reasoning (Hindi)

Counting Figures Part 1 Counting Of Straight Lines Reasoning (Hindi)

Sail E0 free webinar Webinars

Real Numbers Part 7 Class 10 Maths

Real Numbers Part 1 Class 10 Maths

Polynomials Part 1 Class 10 Maths

DSP Combined 1 Free Revision Test SAIL JO E-0

GPOE / GPA Combined 1 Free Revision Test SAIL JO E-0

BSP Plant Specific Review Test SAIL JO E-0

BSL Combined 1 Free Revision Test SAIL JO E-0

GFM Combined 1 Free Revision Test SAIL JO E-0